Oil tops $75 a barrel –updated–
(cross-posted at firedoglake)
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There’s not much else to be said, is there?
Except maybe what are we going to do about it, continue spending
hundreds of billions per day in Iraq, or start The U.S.A. Energy Project to
get us out of this mess?
Crude-oil prices broke through $75 a barrel to hit a new record
Friday, fueled by concerns about Iran’s nuclear ambitions and tight
U.S. gasoline supplies.Prices at the pump also kept rising, with the average price of a gallon of
unleaded regular gasoline at $2.855, up 3 cents from a day earlier and more
than 60 cents higher than a year ago, according to AAA’s daily fuel
gauge report.Crude prices, which are more than 40 percent higher than a year ago, have
risen 8.4 percent from Thursday’s closing price — the biggest
weeklong jump since the week ended June 17, 2005, when crude futures rose
9 percent.New day, new high: Oil tops
$75 a barrel
Worry about Iran’s nuclear ambitions, U.S. gasoline stocks drive up
price
Al Gore
is looking even smarter today, with John
Kerry right behind him.
If anyone in America thinks the Republicans
are going to solve the energy problem they’re simply not paying attention.
Republicans believe in nuclear energy. Fine, but what are we going to do with
the waste? Nevadans don’t want it, would you? Do you want to transport
nuclear waste through the poorest cities in America so terrorists can make trucks
a target?
Now imagine Bush’s Katrina style bumbling when a spill happens while
nuclear waste is being transported. Deaths and destruction in the millions,
both in lives and treasure.
Oil prices could be the
issue of the year, just like it was back in Jimmy Carter days. ANWAR isn’t
the answer. Just wait until summer and people start driving on vacations. This
could get really ugly, especially if another oil executive gets a golden package
that resembles the collective wealth of several small countries combined.
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