Price of OIL jumped up $3.02 to $74.53 TODAY

China expressed confidence in Europe today making world markets have a good day and Obama prohibited new drilling for at least another 6 months...led to the increase.

Here is what you need to know...Europe is about to financially collapse...there is no way around it. The Euro is all but done. China is also heading towards a big kick, if not collapse, of their economy.

Oil may get up to $80 or $85 but by the end of the year will be free falling again I predict.

Just because B happened after A, you can't assume that B is a result of A.

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Obama had little to do with this. Many factors go into speculation of oil futures. Middle eastern conflct, OPEC, international economic factors, greed.

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bullshite....It's Obama's fault dammit!!!!

I am by no means defending Obama...just stating facts. This is just a portion why oil jumped. It didn't budge when the well sank that would have been the time that oil jumped. It didn't.

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That does not excuse what this administration is doing.

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And what exactly are they doing? I see a lot of not doing anything.

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I thought you were dumb and full of shite before I read that last word, but I was going to research it before I said anything. However, with that one word, you made me realize that you, in fact, are an idiot and do not know what you are talking about.

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Well it is apparent you know little about the Oil business. Speculators run the show on futures, that is wall street. Greed is a part of it. I am not bashing the Oil industry, I've been in it since the mid 90's. Today's announcenment is a part of the jump but there are alot of outstanding issues that are why it jumped. If the dollar sinks vs the Euro, commodities go up. Do you know what oil is genius, a commodity. You are pretty much a fricking idiot. Don't debate me on this.

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An announcement that is completely retarded and doesn't come close to solving the problem. Numb nut politicians that got bought out by oil company lobbyists caused this, the least they could do is just not make it worse.

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I do agree with this completely however.

shutting down the ops caused the oil price to spike up to test the market. It's just a battle to get President Obama to get rid of the suspension IMO

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Shutting down new exploration.



To ensure that this shite doesn't happen agai

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Do they stop flying planes for 6 months when a plane crashes? Do they stop camping in the woods when we have forest fires? Come on man, dont be so naive as the the fact why he stopped drilling. It is his dream to take over the oil industry and regulate drilling then just stop it all together. It's his fricking dream to socialize this entire country!!!

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Do you know what oil is genius, a commodity. You are pretty much a fricking idiot. Don't debate me on this.

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Look hear oil field. I know what a commodity is. The real question is, do you know what a commodities pricing algorithm is? You might know the oil field better than I do, but I am pretty familiar with it and I promise you that you do not know wall street better than I do. You just willingly admitted that wall street runs the price of oil, not the oil field, so I'm already ahead of you.

As far as the notion of greed driving prices up: If you had any idea about the commodity markets that you so proudly talk about, you would realize that the futures contracts (which are the main driver of energy markets) are a zero sum game. Greed in a zero sum game is about as relevant as athletic ability in a game of scrabble.

I'm not even going to talk to you about your comment about the Euro because, 1) at best it's half assed correct, at worst it's flat out wrong and 2) because I don't feel like writing a dissertation on international finance on this board.