Bloomberg.com sez OIL Leak And according to other news, it is 8% of the US oil supply. Immediate spot OIL prices rose $1.79 to $76.55, (slightly below July 14th's 78.40)price.
As I have predicted, and said... WE WILL have $100/barrel OIL by 12/31 and STILL a 50% chance that we will have $100.00 oil by 9/1/2006.
(Sticks his thumb on his nose and Razzes his critics...)
It Ain't pretty.
Now... we need to get used to $5.00 per gallon GAS
AND MAYBE NOW the F*#$King oil/CAR companies will ALLOW the CONGRESS to raise the CAFE (FUEL standards) for milage from around 20 to around 50-60 miles per gallon..
Note that if CAR MILAGE and pricing were to have taken the exact price curve of COMPUTERS, we'd have cars that got 200 miles per hour, and cost about 5,000 fully blown out.
Of course this would have meant that GM, and Ford would have had to downsize YEARS ago, instead of now.
Now why can't we get this milage done TODAY instead of in 10-15 years.
PS AM I Still espouting FICTION???>? I dont think so