Oil Over $102 a Barrel

[pennypinch]

Oil is up over $102 dollars per barrel which is the highest it's been in September of 2008.

They say the reason is because traders fear that the turmoil in Libya will spread across the Middle East.

The recent run-up in prices has been driven by violence in Libya, where rebels and forces loyal to the North African nation's leader, Moammar Gadhafi, continued to escalate Wednesday.
But investors are also nervously watching developments in Iran, the fourth-largest crude exporter in the world, following reports of sporadic protests and clashes with security forces on the streets of the capital, Tehran.

You know, it's a shame that we are paying the price for this. We need to do something here at home to stop the dependence on foreign oil. Gas at my local station is now $3.24 a gallon. It's even higher in a lot of other places. I can't afford that!

[moneysense]

I was just watching a news program on television and the man on there says that gas prices are going to soar over the next 2 or 3 weeks.

We were planning on a trip this summer, but if gas prices go up as they are predicting them to, there is no way that we will be able to go and this will be our first trip to the Carolinas to visit family in years.

What I dont understand is that we are supposed to be the second highest oil producing in the country. So why actually is this happening is beyond me.

[dimetime]

Your right Moneysense it does not make any sense for a country who produces oil to end up paying large amounts for it.

Everyone right now is worried about what they are going to end up paying for a gallon of gas this summer. I heard that it could be around $6.00 per gallon or possibly more.

It is insane!! Workers wages aren't increasing yet grocery prices, utility bills, gas prices, and everything else is increasing, which is making people struggle more and more to make sure that they can get what they need, pay their bills and continue living, but more and more fun things have to be left behind because they can't be afforded.

Our government sure as hell needs to step in and do something to help the people rather than just sitting back, relaxing and watching everyone fall apart while doing nothing.

[moneysense]

What amazes me is that here in Ohio, minimum wage is right around $7.30 an hour and these hours are usually just a few every day which makes people have to travel back and forth to work more often than a regular 9 to 5 job.

The amount of trips a week increases the need for more gasoline and how are people who have only minimum wage jobs supposed to be able to afford gas each work for work, let alone be able to eat, buy food and provide heat for their homes?

And now they are saying that the umemployment rate is at 8.9 percent. How the hell did that happen so fast and more importantly, where did that happen at? I sure isnt in our area.

We are like mushrooms, when you come right down to it, kept in the dark and fed bullshit when it comes to what is actually going on in this country.