$114.53 Another oil price record.

[Subdivisions]

Source: http://www.upstreamonline.com/market_data/?id=markets_oil

Settled at $114.53 at close but went as high as 115.07 within minutes of close. Has retreated to the $114.90 - $114.95 range.

Here's some background on the situation from Yahoo!:

http://finance.yahoo.com/tech-ticker/article/11413/High-Oil-Prices-You-Ain't-Seen-Nothing-Yet?tickers=xom

You Corny's speak up with some legitimate source links, ya hear?

[hatrack]

1. Yowza! 3.01 Yergin Units!

To say nothing of Tapis or Minas . . .

[Subdivisions]

3. Yup! We've officially surpassed the 3 Yergin mark!

Que CERA, CERA...!


What a maroon!

[NickB79]

2. That 3-years-ago column brings me to tears

$49/barrel, man those were the days.....

[Javaman]

4. Doesn't it seem like just last week it topped $100?

boy how time flies when getting screwed.

[Subdivisions]

5. Here's a nice source to back up the rise to today's record close:

http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/current/txt/wpsr.txt

Summary of Weekly Petroleum Data for the Week Ending April 11, 2008

U.S. crude oil refinery inputs averaged 14.2 million barrels per day during the
week ending April 11, down 113,000 barrels per day from the previous week's
average. Refineries operated at 81.4 percent of their operable capacity last
week. Gasoline production moved lower compared to the previous week,averaging
8.8 million barrels per day. Distillate fuel production rose slightly last week,
averaging 4.0 million barrels per day.

U.S. crude oil imports averaged nearly 8.9 million barrels per day last week,
down 33 thousand barrels per day from the previous week. Over the last four
weeks, crude oil imports have averaged more than 9.2 million barrels per day,
about 1.0 million barrels per day below the same four-week period last year.
Total motor gasoline imports (including both finished gasoline and gasoline
blending components) last week averaged 950,000 barrels per day. Distillate fuel
imports averaged 260,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic
Petroleum Reserve) decreased by 2.3 million barrels from the previous week. At
313.7 million barrels, U.S. crude oil inventories are in the lower half of the
average range for this time of year. Total motor gasoline inventories decreased
by 5.5 million barrels last week, and are above the upper limit of the average
range. Both finished gasoline inventories and gasoline blending components
inventories decreased last week. Distillate fuel inventories increased by 0.1
million barrels, and are in the lower half of the average range for this time of
year. Propane/propylene inventories increased by 0.1 million barrels last week.
Total commercial petroleum inventories decreased by 8.0 million barrels last
week, and are in the lower half of the average range for this time of year.

Total products supplied over the last four-week period has averaged nearly 20.6
million barrels per day, up by 0.1 percent compared to the similar period last
year. Over the last four weeks, motor gasoline demand has averaged nearly 9.3
million barrels per day, up by 0.8 percent from the same period last year.
Distillate fuel demand has averaged 4.2 million barrels per day over the last
four weeks, down 0.9 percent from the same period last year. Jet fuel demand is
3.0 percent lower over the last four weeks compared to the same four-week period
last year.

Where's your source for your "we're getting screwed" comment? Besides, I thought you were on the depletion bandwagon?

Edited to add: BTW, the negatives highlighted in the report above have become the norm, rather than the exception. Which explains the steady march upward of oil prices - and gas prices as well.

[Javaman]

6. just because I'm on the peak oil "band wagon" as you say, doesn't mean I

enjoy paying higher prices. I knew they were coming. doesn't mean I have to like it.

Please point out in any of my past posts where I was cheering on higher prices?

jeeez.

[Subdivisions]

7. Nobody's cheering higher prices. But I am attempting to

challenge the deniers to either put up the sources that back up their excuses for higher oil prices, like "we're getting screwed" by the oil companies; or it's all speculators driving up the price; or stand down.

I want to see their proof. After all, if they can prove Peak Oil, oil depetion, or whatever you want to call it, is wrong, then they can have at it.

So far, crickets.

[Javaman]

8. ohhhhh, I see what you are after.

LOL

trying to get them to come out of the wood works.

well more power to you, but you will have quite the challenge ahead of you.

Many of the deniers have so bought into the "oil companies are screwing us (maybe they are to a degree)" creedo, that they won't believe anything else.

I'm more ranting about the echo chamber from our government to deal with the issue of peak oil. That's what I mean by getting screwed. LOL

Life, you know?