Oil closed at $94.53 per barrel today, a new record. After slipping somewhat in the past few days, the price of oil rebounded today in a big way, continuing this fall's long run of record closes.
Copyright (C) 2007 James Michael Brennan, All Rights Reserved
posted by Mike Brennan @ 6:01 PM
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Oil closed at a record $91.86 per barrel yesterday.
Copyright (C) 2007 James Michael Brennan, All Rights Reserved
posted by Mike Brennan @ 7:12 PM
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Oil closed at $90.46 today, a new record. Supplies are tight. Always will be. The main problem with this run of record closes is that it pushes other topics off the Previous Posts list in the panel on the right side of this page. Feel free to scroll down to the Archives, in that same panel.
Ninety dollar oil makes that $78 record close at the end of July seem pretty tame, doesn't it?
Copyright (C) 2007 James Michael Brennan, All Rights Reserved
posted by Mike Brennan @ 7:01 PM
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Oil closed at a record high of $89.47 per barrel yesterday. Oil was above $90 last night in overseas trading, and briefly traded above $90 on the New York Mercantile Exchange this morning. Will prices remain high this winter? Maybe. Oil stocks are currently tight as we head into the heating season.
Copyright (C) 2007 James Michael Brennan, All Rights Reserved
posted by Mike Brennan @ 9:06 AM
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I'm beginning to weary of this, but I suppose I'm expected to point out that the price of oil hit another record high yesterday. After trading above $88 per barrel during the day, oil closed at $87.61, up $1.48. Could we be seeing one hundred dollar oil in the not so distant future? Is the Pope a Catholic? Do bears shit in the woods? Does the Pope shit in the woods? The answer to at least one of those questions is "yes."
Copyright (C) 2007 James Michael Brennan, All Rights Reserved
posted by Mike Brennan @ 9:19 AM
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Oil was up two and a half bucks to $86.13 today, yet another record close. The big jump was attributed to Kurdistan-related tensions between Turkey and Iraq. So take consolation in the hope that if we can get the Turks to calm down, oil prices will slip to a more sane level in the low eighties. Oh, wait. I forgot. Oil had already been on a robust record setting clip, so the underlying trend was strongly up in any case. And the Turks probably won't calm down. Never mind.
Copyright (C) 2007 James Michael Brennan, All Rights Reserved
posted by Mike Brennan @ 6:24 PM
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Oil prices continue to push ever higher into record territory, and have remained steadily at or above eighty dollars per barrel for the past several weeks. Light sweet crude traded above $84 yesterday, and closed at $83.69.
It has now been more than two and one half years since I warned of the coming surge in oil prices, and twenty-eight months since my first post on a what has become a long run of record closes. Sometimes it takes a while for doubters to be persuaded, but by now it should be evident to all that the upward march of oil prices is not anomaly but reality. Now if we can convince the doubters about global warming....
Copyright (C) 2007 James Michael Brennan, All Rights Reserved
posted by Mike Brennan @ 11:32 AM
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I'm interested in political discourse, economics, architecture and structures, the nature of truth, the canyon country of Utah, renewable energy, computer programming, and the tallgrass prairie. Plus a few other things.
The blog Does It Hurt To Think? used to be titled Prairie Journal. Here's why the title changed.
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