Part of the rise in oil prices is the drop of the Dollar compared to most
other currencies, caused by Bush's excessive spending and the "tax break"
for the Fat Cats.

"Harry Hope" <rivrvu@ix.netcom.com> wrote in message
news:293f2195e4iel5mtei616me71o9iqp88bj@4ax.com...

Oil jumped 18 percent in the past month as OPEC and the International
Energy Agency have increased oil-use forecasts.

Gasoline has also jumped to a record on fund buying as refinery
disruptions threaten to limit U.S. supply.

Crude oil for April delivery rose $1.65, or 3.1 percent, to $54.70 a
barrel at 12:19 p.m. on the New York Mercantile Exchange.

Prices touched $55.20 a barrel, the highest since Oct. 27.

Futures are up 53 percent from a year ago.

Gasoline for April delivery rose 4.42 cents, or 3 percent, to $1.528 a
gallon in New York.

Prices touched $1.531, the highest intraday price since the contract
began trading in 1984.

Gasoline is 40 percent higher than a year ago.

From Bloomberg, 3/3/05:

New York Oil Rises Above $55 on Signs Use Will Outpace Supply

(Bloomberg) --

Crude oil surged above $55 a barrel in New York, less than $1 short of
a record, and reached a record in London on speculation that
increasing consumption will outpace production this year.

________________________________________________________________

Harry