High price of oil

Crude oil prices spiked above $92 a barrel Friday.

Why? Tensions in the Middle East and renewed concerns about supply.

The United States announced new sanctions against Iran on Thursday, and a confrontation between the world's largest oil consumer and its fourth largest oil producer could upend markets.

Also, a threatened incursion by Turkish armed forces into Iraq would cut oil supplies out of northern Iraq. Turkey has warned it will decide whether to cross into Iraq in pursuit of Kurdish guerrillas regardless of U.S. objections.

On Thursday, Organization of Petroleum Exporting Countries Secretary General Abdalla el-Badri told The Wall Street Journal Asia the cartel is not in discussions to boost production by 500,000 barrels.

For more, check out this AP story by Pablo Gorondi.

-- Jaime Holguin

Comments

[Julia Bridges]

bushwhacker has balls, that's for sure
How dare the poorest excuse for a US President we've ever seen, put forth his reason for vetoing the SCHIP that, "some parents might get away with not paying for health insurance even if they can afford it" when he is spending $12,000,000,000 A WEEK on a hopelessly deadlocked, dead-end attempt to prove... something, no one's figured it out yet.
Oh yeah, oil -- protecting the oil interests his rich buddies who are likely lining his pockets with so goddamned much payola it would be embarassing even to J.R. Ewing.

He also had the balls to say Congress was wasting its time by trying to pass this bill a second time. WASTING TIME? What does he call the last 4 years in Iraq?

If anyone in that disaster of an administration can point to ONE SINGLE THING we've accomplished in that country.... they would be liars as well as morons. Capturing Sadam Hussein -- what good did that do us or the Iraqi people? And besides that glorious feat, all we've done over there is blow up villages, lead the way to the deaths of hundreds of thousands of innocent Iraqi bystanders, thrown young men and women from the US into the paths of radical fanatics who are tired of Uncle Sam telling them they should change their way of life after 2,000+ years.

If it wasn't so horrendous, so frightening, so inane, so senseless, shrub's comments could almost be funny, they're so insipid. What's frightening is that he thinks US citizens won't notice. What's frightening is the one group pf people whom we should be relying on, are impotent invertebrates.

But there is no hope of recovery, because the Democrats haven't got two balls or half a spine between the lot of them to stand up to Bush. Read Arianna Huffington's article in The Huffington Post 10/26/07 at http://www.huffingtonpost.com/arianna-huffington/ending-the-war-time-for-_b_69923.html -- about how the Democrats CAN stop shrub from spending one more dime on the war in Iraq.

But they won't because they are more concerned with their own political futures than the life or death of a good number of our 18-, 19- and 20-year olds who will be shipped off to die in Iraq someday soon.

You see, there's this election next year, and even though THE PEOPLE -- a majority of them, as a matter of fact -- DO NOT want to continue to fund or partiticpate in the shrub's war, they are ignoring their duties to represent the citizens who voted them into office. They're walking the fence, trying not to do or say anything that might hint they are not "supporting the troops." They've let the shrub fully distort any piece of news about the war for good or bad, and the Dems, in response, turn meekly to the microphone and whine that they can't do anything about it because that bad ol' president is in power. They've done NOTHING -- so one wonders why we would elect their party into office.

So the question must be: Who's REALLY at fault for the continuing nightmare in Iraq -- the greedy, oil-sniffing bastard in the White House, or the majority of Congresspeople who REFUSE to stop him because of their own greedy efforts of self-preservation?

[Global UGGs]

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