Oil Prices At Record Levels & Rising

OIL. Remember the TV show & series “The Beverly Hillbillies” & its Theme Song were oil was found & made them rich “…Black Gold, Texan Tea…”

I am astonished to see Oil Prices today at:
110 US$ /barrel - NYMEX Futures
107 US$ /barrel - BRENT

I think its not going to go down either, as the Indian & Chinese economies demand more along with the Western economies increasing needs of this finite resource. Inflation = increasing interest rates = staggered GNP growth = unemployment...recession.

The cartoon & "The Economist" magazine cover story, drawn by "KAL" , highlights one of the main cuases.

No comments: