Thanks fed your doing a great job, Just think people will have plenty of money for gas when they get the rebate check in May. Demand will be great $4.00 here we come.
Hedge funds need to be regulated, they in part are part of the problems we are in. There is a speculative premium in the commodity markets due to excess speculation by these unrestricted funds.
3 years ago if you said oil was going to $100 you would have looked like a fool....amazing isnt it, oil at 100+ gas going to $4.00...look at wheat going through the roof as well.
You're blaming the economy and the problems that exist on the Fed? Who buys gas gazzling SUV's? The consumer. And often times it's people who can't afford their car payments to begin with. Add in higher oil and they sink deeper into debt. They refinance their houses to get more accessible cash. They then spend that on more "consumption" -- buying crap from Wal-Mart. Seems to me it's choices made by consumers that have the economy where it's at. We've had near zero savings rates for years now. People have a choice -- they can live within their means or choose not to. The latter choice adversely impacts them individually and the overall economy. Just glad I'm not the "average" consumer.