Happy 150th Anniversary … Petroleum

Tags

oil, petroleum

Petroleum, or more correctly the industrial use thereof, is 150 years old today.

Oil at $180 = Gas at $5.50 ?

Tags

fiat currency, inflation, oil, politics

Why oil could hit $180 a barrel – MSN Money via kwout

In the “more dire predictions” category, Jim Juback from MSN (moneycentral.msn.com) thinks oil will continue its price rise. He sites geology and geopolitics. I often read his columns and they are quite good on the whole.

He omitted what I believe to be the major cause of this, and other, inflation. Government central banks producing huge quantities of fiat currency.