Oil dipped to $95 a bbl. this morning but rebounded to $97

Oil and gas futures kept sliding after a steep drop Wednesday, when the Energy Information Administration said U.S. gasoline demand dropped 2.4% last week, largest drop in seven consecutive weeks of declines, while oil supplies grew last week by 3.8 million barrels, more than twice as much as what analysts expected.


Benchmark crude for June delivery was down $2.36 to $95.85 a barrel in ear;y electronic trading on the New York Mercantile Exchange. The contract dropped $5.67 to settle at $98.21 on Wednesday.

Later Thursday, in volatile trading, oil trimmed some of that loss, rebounding to around $97 a barrel.

Gasoline at $4 a gallon "is likely to yield an anemic U.S. driving season," the IEA said in its monthly oil market report. "This is the main change to our demand forecast — a weaker 2011 profile in North America."




http://www.usatoday.com/money/industries/energy/2011-05-12-oil-prices-fall_n.htm


Supplies are high, people can't afford to drive except to work, and the bastards think quick profits are worth stalling the economy. I wondered this past Sunday when my Sweetie and I went someplace why it was deserted, and then I realized today why, doh.


Imprison them all, arrrgggghhhhh

We suck at it.

http://tdi.vw.com/clean-diesel-vehicles/

From $23,325

http://www.vw.com/en/tdi/golf.html

That is how Europe functions. Not a big mystery.

Not that you can with nothing in walking distance.

Christie kills the new PATH tunnel, Scoot rejects high-speed rail funds, as did a few other so-called governors.......