Monday, Sep 22, 2008
not a good sign..
CNN: Oil skyrockets
Oil prices jumped more than $20 a barrel Monday in biggest dollar jump ever as the dollar falls following the government's $700 billion Wall Street bailout plan.
Oil surged $22.46 to $127.01 a barrel, after reaching as high as $128.55 - a $24 gain - at these levels it will be oil's biggest gain ever in dollar terms.
Posted by mark @ 07:55 PM (615 views) Add Comment
8 Comments
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1. Planning4acrash said...
Anybody talking about peakoil causing this is an idiot. Clearly, the b(w)anks have used our money to make profit out of making our fuel prices more expensive! A Freaking Joke!! I'm So Mad, and I'm not going to take it anymore!!!! Just like how the EU uses our money to pay our farmers to dump food and leave fields fallow, to make our food more expensive, and stop the free market from producing a diversity of useful products, like, low and behold, orchards providing local apples to, of all things, compete with apples from New Zealand!!
2. plato said...
There seems to be an air of total chaos permeating throughout the financial world. Things are reaching such a state that although gold is gold some commodities are turning into gold in value and paper money is becoming worthless. This is surely the result of the huge money supply used to save the banks.The worst thing was not to do nothing, It was to do this.
Oil could jump anywhere in these conditions. It's all become a guessing game.
I think we have virtually reached a point where market movement is too extreme and forecasting is complete guesswork. It's like a volcano building up to an erruption. I wonder how much longer this can go on for?
3. planning4acrash said...
Can't blame this on peak oil!!! They just spent our money to make profit from making our oil more expensive, in the meantime, reducing our capacity to create real value in the real economy, reducing our employment options and the general abundance of society, whilst they run around giggling, spending their bonuses on champaign and buying up islands, away from the mobs about to tear our society apart, when they realise they've been robbed blind by a modernist coup from a bunch of psychopathic scientific dictators! I'M MAD AS HELL, AND I:M NOT GOING TO TAKE IT ANYMORE!!
4. planning4acrash said...
Just like the EU uses our money to pay our farmers to dump our food onto the third world, undercutting and wiping out native farmers and producers, and use our money to keep our fields fallow, all in the end to keep our food prices high, to ensure that the free market doesn't create local diversity abundance, for example, more farmers growing apples instead of un-economic, environmentally unfriendly biofuels, instead of local apples to compete with, low and behold, apples from freaking New Zealand!
5. last_days_of_disco said...
No but we need the biofuels so we can fuel the tankers that carry the apples from New Zealand.
6. planning4acrash said...
We need biofuel like we need Paulston, Darling and Brown. Heck, why don't we use them as biofuel?!
7. planning4acrash said...
Well, Hemp is a great biofuel, four crops a year, best biofuel known to man, left over fibre is the strongest natural fibre known to man, makes plastic 10x stronger than steel and the seeds and oil contain all amino acids the body needs, so it can cure most diseases.
8. planning4acrash said...
Gold up to £480/ounce from the recent fake low of £420.