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Thanks to BP, crude oil futures have increased 86% !!!

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dixiegrrrrl Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jun-07-10 02:06 PM
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Thanks to BP, crude oil futures have increased 86% !!!
"Crude's premium for delivery in eight years compared with today's price rose 86 percent since the BP Plc-leased Deepwater Horizon rig in the Gulf of Mexico exploded April 20.
Oil for December 2018 is $21 a barrel more than next month, compared with $11 before the disaster. More regulation may add $5 to the contracts in coming years, according to Deutsche Bank AG. "

"The president said stop drilling, and now we are seeing the result," said Adam Sieminski, chief energy economist at Deutsche Bank in Washington. "Before all is said and done, we're going to lose more rigs in the Gulf."

http://blog.al.com/live/2010/06/gulf_oil_spill_drives_up_price.html
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INteresting how they can predict the cost of oil so far into the future.
And how they "warn" that regulations will drive price up.

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derby378 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jun-07-10 02:15 PM
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1. Meanwhile, Fry's will sell you a wind generator for around $600
Not powerful enough to supply electricity to an entire house, mind you, but I like where they are going with this.
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bobthedrummer Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jun-07-10 02:37 PM
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2. It's not really Adam Smith's invisible hand, nor was Karl Marx spot on about monopolistic drive-it's
really the culture of death=life, and that culture's "life"=$$$...
Oh well, try to stay out of trouble my friend.
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