Yup. It's not your imagination. The Prices are going up at the Pump. According to My Way - Oil above $87 in Asia, at highest since early May Nov 5, 4:23 AM (ET)
So as this Administration continues FAILED policies to attempt to Jump Start the Economy, WE ALL PAY MORE. Couple that with No Drilling, No using our own Resources, and the continued increase in World Wide Demand, we get what we get. More on the Economy a bit later.
BANGKOK (AP) - Oil jumped above $87 a barrel Friday in Asia, reaching its highest since early May, as the Federal Reserve's plan to buy $600 billion of Treasury bonds to stimulate the U.S. economy continued to send a tide of cash into stocks and commodities.
Benchmark crude for December delivery was up 37 cents at $86.86 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange after earlier reaching $87.22. The contract climbed $1.80 to settle at $86.49 on Thursday.
The Fed's announcement Wednesday underlined expectations that the dollar would weaken further and push up prices for commodities including oil.
The strength of the dollar and the price of oil are closely linked. The dollar has been getting weaker against other currencies for weeks, ahead of the Fed decision and will probably fall further as more dollars pour into the economy.
Welcome to the Big Sunday Edition of the OPNTalk Blog. Glad you could stop by today. I am of course, your Provocateur of thought, Peter Carlock, and coming right up today?
Pelosi Not Going Away
You know folks, I really hope you get this. 34 American Warships to patrol off Mumbai. Coconuts removed from trees as a precaution. 250 U.S. business Executives with Obama on 'biggest ever trade mission' The ENTIRE Taj Mahal rented out. THOUSANDS of people traveling with Obama. $200 MILLION a day. YOU are paying for this. Do the math folks. $200 MILLION a Day. Ten day trip? You got it. Obama is taking a $2 BILLION Dollar Vacation. On OUR dime. I love this from the UK Daily Mail.
Probably not since the days of the Pharaohs or the more ludicrous Roman Emperors has a head of state travelled in such pomp and expensive grandeur as the President of the United States of America.
While lesser mortals – the Pope, Queen Elizabeth and so on – are usually happy to let their hosts handle most of the security and transport arrangements when they venture beyond their home shores, the United States creates a mini-America on the move to ensure that nothing is left to chance.
Be right back.
My Way - Oil above $87 in Asia, at highest since early May
UK Daily Mail - Bomb-proof tunnel with air conditioning: Obama's security go to extraordinary measures for his tour of the Gandhi museum