Oil does it again, closes at new record high

The price per barrel went over $120 - a new high - and closed at $119.97. Last week's sell off was short lived and buyers jumped on whatever news they could find, which is pretty much the same as any other day. It's going to test the $120 mark a few times but unless the demand eases and suddenly the world has great news in the oil regions, get used to more increases. Add to that Bernanke's Wall Street loving rate cuts (which never quite reach beyond Wall Street, in a good way) and you have this.

Those Republicans sure were right on this. Ha ha, look at those ridiculous people who talk about conservation. They're tree hugging goofballs who want to drive silly little cars. Errrr, nevermind. Mission Accomplished.