Tuesday, February 19, 2008

Oil costs $100 at market's close

Oil has hit $100/ barrel before, but it dropped back down to mere double-digits before the close of the market. Not so today: When the closing bell rang, "light sweet crude" was at $100.01. Blame Hugo Chavez, or blame Hubbert's Peak. It's some expensive stuff.

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posted by Callan Bentley at 5:30 PM

1 Comments:

Anonymous BrianR said...

Yes, that is pricey ... but, I've said before, I think high prices are good for changing the way we use that specific resource (and energy resources, in general). The danger is if it gets so high that it causes MAJOR problems (e.g., massive economic collapse, starvation, etc.)

February 19, 2008 8:28 PM  

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