Oil leaps above $70 as Katrina hits Gulf

[phantom power]

LONDON (Reuters) - Oil prices surged to a record above $70 a barrel on Monday as one of the biggest hurricanes in U.S. history disrupted oil and gas production in the Gulf of Mexico.

The region is home to a quarter of total U.S. oil and gas production.

U.S. crude oil futures jumped nearly $5 a barrel in electronic trade to touch a peak of $70.80 a barrel, the highest front-month price since the New York Mercantile Exchange (NYMEX) began trading the contracts in 1983.

http://news.yahoo.com/s/nm/markets_oil_dc

[nickinSTL]

1. just heard...

on www.allclassical.com (89.9 FM, KBPS Oregon) news:

Bush is considering tapping into the federal reserve "...to help out the refineries..." :eyes:

He can't even do the RIGHT thing...for the right reason. :puke:

[bee]

2. "to help our refineries" ???

man... oil really is the only thing he cares about.
How about helping out the people?!
sad.

[phantom power]

3. That's the problem with electing a sociopath to be president.

[wli]

4. he wasn't elected, he was selected (opti-scan & Diebold) n/t

[Name removed]

5. Deleted message

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[phantom power]

7. right.... good luck with that.

[hunter]

8. Yep, everything's all right. We just have to build some more refineries...

...and pump a little more oil out of Alaska.

:sarcasm:

Hmmmm, let's see now...

The lower decks are flooded, a million passengers just ran past screaming for the lifeboats, the captain has locked himself in his cabin where he is calmly eating cake, his first is missing, and you suppose all we have to do is back away from the iceberg and resume this merry cruise?

Okay. There's a lifejacket under your bunk. You might want to put it on, but nobody is forcing you to do that.

Have a nice day.

[stuu]

9. help, 16 year old here.

i'm a democrat for various reasons. i'm certainly not as well spoken as you all are here. please help me:

are there ways that bush is to blame for rising gas prices?

if so, what are those reasons?

thank you,
stuart

[bemildred]

10. Iraq. nt

[phantom power]

11. It's mostly the things he hasn't done.

He hasn't taken any substantive steps towards migrating us to a non-fossil economy. His "solutions" to diminishing oil supplies are to

a) invade countries with oil
b) drill more locations in the U.S.

Getting off oil is going to be expensive and painful. It will take great leadership to get the American people behind that kind of effort. Bush is incapable of that kind of leadership.

[Name removed]

6. Deleted message

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