Oil Prices Hit High Of $75.89 A Barrel
The good times are now gone. Gone is the $3.00 a gallon gas, here to stay is the $3.50 a gallon variety.
Who do we have to thank for the latest increase? Either part or all of the following:
1. Escalating violence in the Middle East.
2. News of new violence and explosions on Nigerian pipelines
3. Iran, OPEC's No. 2 oil supplier, being referred back to the U.N. Security Council.
But wait there is more--an impeding war with Iran and/or a bad hurricane season in the Gulf of Mexico could drive prices above $4.00 a gallon.
It looks like the good times are only going to get better. [sarcasm]
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