Oil trades at $100 barrel ...happy new year....2008 the year of park and walk..

[paparush]

Violence in Nigeria and Algeria, the weak dollar and cold weather have all raised prices after the New Year break.

Reaction to the assassination of the former Pakistani prime minister, Benazir Bhuto, also contributed to the rising prices.

Light sweet crude for delivery in February rose $4.02 to trade at $100 a barrel on the New York Mercantile Exchange (Nymex).

But some analysts played down the relevance of passing the $100 mark.

"The entire focus on $100 oil is frivolous," said Tim Evans at Citigroup Futures Research in New York.

"It is not a magic number. It doesn't suddenly make this a fundamentally strong market."

http://news.bbc.co.uk/2/hi/business/7168664.stm

[SpiralHawk]

1. "Smirk." - Commander AWOL & reublicon oil & muntions cronies

[rucky]

2. Time to fit my bike with snow tires.

ugh.

[GreenTea]

3. Bush steered the price of oil from the low twenties at the start of BushCo in 2001 to $100

a barrel today.

http://www.huffingtonpost.com/raymond-j-learsy/eureka-finally-a-triumph_b_79315.html

[Zywiec]

4. And I thought it was desirable to park and walk

:shrug:

[paparush]

8. It certainly is desirable! For me, my job is a 50 minute drive from my home...

[Javaman]

5. didn't these same "analyst's" play down the relevance of $80 and $90 oil as well?

let the anti-recession propaganda begin!!

[blues90]

6. The lowest price here in southern calif is $3.40 per gallon .

It does not seem long ago I used to put in $5 and drive all week now you can't even stop the pump at $5 since the numbers fly by so damn fast . My tank only holds 10.5 gallons and for that I may get 300 miles without traffic on the highway . I used to get 350 miles on a tank so the gas is not as good as it was before and my car is in better shape mechanically now .

[taterguy]

7. $5.00 lasts a couple weeks for me

Of course I only drive a few miles a week at the most unless I'm going out of town