autofixer
Veteran
It is scary and interesting that oil is sailing through $80 (overnight) per barrel and no-one seems to care or notice. Is it because Bush and Cheney, the "oil guys", are not around anymore to blame? The fact is oil is screaming up because we are devalueing our currency, and oil is traded in dollars (The dollar just hit a record low against the euro $1.50 to the euro.). We got a years respet as we went through the current economic turmoil, but now we are paying the piper--probably for good. The fundementals that existed a year ago, that drove oil to $147, are still in place and no it was not fault of futures traders then or is it this time. US based companies only control something like 8% of the World's oil supply, so when the government starts telling you how they are going to protect you from "big oil", know they are lying to you again. We are under the discretion of a lot of bad people controling most of the World's oil supply. It is going to be scary and interesting to see how the airlines and LCC in particular deal with this new paradime of high oil and since we, as a nation have decided to go socialist, European style permanent high unemployment.