Tuesday, May 06, 2008

Oil nears $123 on $200 oil prediction, supply concerns

NEW YORK (AP) -- Oil futures blasted to a new record near $123 a barrel Tuesday, gaining momentum as investors bought on a forecast of much higher prices and on any news hinting at supply shortages. Retail gas prices edged lower, but appear poised to rise to new records of their own in coming weeks.

Click here for the full article.

Here we go again. This evening we ran down to the local gas station and saw that the low grade gasoline just went up and is now $3.749.

In Rhinelander we are seeing car lots selling motor scooters. One lot had half dozen or so sitting there and most had sold signs on them. Those scooters disappear and then you see a whole new batch the next day or so. Looks like they're moving quite a few of them.

Back in May of 2006 I posted this picture of the fuel/wallet gauge that a friend of ours had emailed to us. I thought it was entirely appropriate to post it again. Back then gas was over $2.90 for low grade. Funny how that seems cheap now. I wonder how long it will take before the current prices seem cheap.

Will we be seeing these kinds of scenes below, in America some day?

Our Cousin Jerry sent us an email with tons of these kinds of pictures and I wondered if the U.S. ever will resemble this. If the economy keeps going like this they'll price us right out of our cars.


On a brighter note, our third ewe just gave birth to a lamb this evening. And it looks like she may have one more coming. We'll see in a little while.


Blogger Paper Roses said...

Hi just had to let you know that over here in England fuel is going up too at a scary rate £1.25 a litre so with 4.5 litre to a gallon that is about £5.50 in pounds in dollars that is about $11 a gallon we are really feeling the pinch now and the forecast is bad for this summer.
So many small firms are going under as you can imagine
Wish we were living in a log cabin like your family , looks so lovely .
Love from Debbie.

6:23 AM  
Blogger RL said...


Thank you for the comment.

Wow! $11 a gallon must be putting a real crunch on your economy.

I went to your paper roses blogspot. Your work is amazing. Would never have guessed they were paper roses. Very beautiful!

Take care and God bless.


10:27 AM  

Post a Comment

<< Home