| Quote From Source: |
| Oil prices have hit a record high above $127 a barrel on speculation that China will need to import more fuel, stretching global supplies. With more energy needed to rebuild areas devastated by the earthquake earlier this week, US light sweet crude jumped to $127.43 a barrel. Prices were also supported by Goldman Sachs forecasting that oil would reach $141 a barrel later this year. |
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what a load of crock. they r using anything and everything to justify raising oil prices.
The only way to stop this problem right now is to ban the sale of oil contracts to speculators. Only allow them to be sold to people who can actually use or refine the physical product.