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2010-09-01
Study: CEO Compensation Totaled $598 Million At The 50 Companies That Laid-Off The Most Workers

Peak Oil And The German Government - Military Study Warns Of Potentially Drastic Oil Crisis

Mystery Over Russian General Found Dead On Turkish Beach

Internet Freedom - Will Russia's Bloggers Survive Censorship Push?

Life In Baghdad's Slums - Fighting to Survive In Sadr City

Moral Bankruptcy At HSH Nordbank - Investigators Look At Frameup And Iniquity At German Bank

Study: Illegal U.S. Immigration Has Slowed Considerably

Inquest Told MI6 Employee's Body Was In Padlocked Bag

Report Claims Andy Coulson, Prime Minister's Media Adviser, Discussed Hacking Phone Calls

Ferrari Recalls 458 Italias After A Spate Of Fires

Probe Of Alyeska Pipeline Spill Uncovers Troubling Pattern

Defiant Dick Fuld Blames False Rumors And The Fed For Lehman Bros. Collapse

U.S. Toll Rising In Afghanistan, 22 Soldiers Killed Since Friday

Charity Oxfam Hit By Fatal Bomb As U.K. Deputy Prime Minister Visits Troops In Afghanistan

Gov. Schwarzenegger Tells Top California State Officials To Stop Hiring

Australian Economy Surges 1.2 Percent In Second Quarter

Police: At Least 1 Hostage Taken At Discovery Channel Headquarters

U.S. Sen. Murkowski Concedes Primary Election Race To Miller

2010-08-31
U.S. Salmonella Scare: Farm Inspections Reveal Manure, Mice And Maggots

U.S. Warns East Coast To Brace For Impact Of Hurricane Earl

Commentary: The Sarrazin Debate - Germany Is Becoming Islamophobic

Commentary: The Sarrazin Debate - Germany Is Becoming Islamophobic

Hell On Earth - The U.N. Documents Congo's Bloodbath

Baghdad On High Alert As U.S. Officially Ends Combat Mission

Mexico Seizes 'La Barbie', Drug Lord Infamous For Beheadings

Greenland's Prime Minister Lambasts Greenpeace For Raiding Arctic Oil Rig

Interview With Ex-CIA Agent Michael Scheuer - 'Only The Taliban Are Not Corrupt'

'I Did Nothing Wrong' - German Gulag Prisoners Recall Their Ordeal

Stock Investors Brace For Another Ugly September

Four Israelis Shot Dead Near Jewish Settlement On Eve Of White House Talks
Oil's Recent Rise Not Result Of Supply Or Politics, It's ...Traders!
2007-11-05 00:44:31 (148 weeks ago)
Posted By: Intellpuke
(Read 1547 times || 1 comments)
Investors are thought to be driving prices upward, bolstered by weak dollar, money leaving markets.

After a week of new records for crude oil prices, the question is: How high can they go?

In the past 10 weeks, the price of crude oil has shot up $25 a barrel, closing at $95.93 in New York on Friday, an all-time inflation-adjusted peak. Unlike earlier spikes in oil prices, which came on the heels of war in the Middle East, this latest ascent does not appear to be linked to any one conflict or to any physical shortage.

Instead, traders who treat oil like any other commodity are widely thought to be driving prices upward, bolstered by a weak dollar and money flowing out of stock markets and other investment vehicles.

(story continues below)




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Readers Comments
Price of Oil
By: emetcalfe
2007-11-07 23:13:34
The high price of oil has done two things to American society:

1) Validated the doomsayers

2) Given rise to a new brand of US Journalism which, by implication, supports communism by accusing speculators of being evil.



Given the stark duplicity of the second I think I'll have to side with the doomers.

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