Grab Your Ankles -- Gas Is Going To The Moon
Thought you got screwed on gas last year? Just wait for this one. We just went over $61 a bbl -- for completely idiotic reasons like "a refinery caught fire in Texas" and "the President of Iran found fleas in his beard."
We're already over $3 for premium here in Northern California -- and the local newspaper, the horrific San Jose Mercury News, says to watch for prices to go another .20 to .40 a gallon higher as the prices are already up that much at the wholesale level.
Bottom line? Commodities speculators have gotten momentum again -- and they're going to bid crude through the roof just like they did last year -- when the media was publishing crap like "we're running out of oil" while so much was pumped out of the ground tankers full of the stuff were sitting around because there wasn't any place to store it.