Up and down, up and down. How high is oil going to climb on “speculation” before it settles back down to a realistic level?

The Dow briefly turned positive on Monday and the Nasdaq rose more than 1 percent as oil prices reversed an earlier climb, providing investors with some comfort following data that revived concerns about the economy.

Stimulating the economy won’t help, no matter how you try to do it, if people are spending more than the equivalent of that stimulus money on the nearly doubled gas prices.

Oh sure, people pay a lot more than we do overseas, but you know, that is beside the point. The price of gas has risen so quickly here that the cost of gasoline is now eating away at the money many people, myself included, need for other necessities.

Where’s all that Iraqi oil everyone keeps saying we are in the war for? If we “invaded” Iraq to get their oil, why has the cost of oil skyrocketed? Shouldn’t we have plenty of it just laying around waiting to be burnt in our automobiles?

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