Oil rises with USSA credit meltdown

Well, will we see another roller-coaster to 130 and back? If that happens, I guess Kanadians will really get some revenge for the hockey shutdown in Vancouver.
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Or will the disaster of Bush II and the unwinding terror wars knock the USSA rubble into its final death spiral? I hope not, if only for Kanada's sake, but it's easy to see that President Obama isn't feeling himself:

Maybe another summer of massive gas price increase will wake up the NAU public to what really happens with you try and fail at imperialism.

It would do us well to get on our bicycles, shop local and not bow down to oil barons and other tyrants over oil. New Brunswickers need to be especially careful now that the power swindle is coming down to the line, that other tricky-dicky stuff isn't pulled by Bermudans, banksters and hucksters from Quebec and New Brunswick alike.

They never miss the chance of a 'good' opportunity to get away with stuffing it to the people once again.
Oil above $80 as traders eye low interest rates
Alex Kennedy - Associated Press
Feb 22, 2010

SINGAPORE (AP) - Oil prices rose above $80 a barrel Monday in Asia, extending a three-week rally as investors expect the U.S. central bank to keep interest rates near zero to help fuel economic growth, which would boost crude consumption.

Benchmark crude for March delivery was up 51 cents to $80.32 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract added 75 cents to settle at $79.81 a barrel on Friday.

Investors are betting that a low inflation rate and weak employment figures will lead the Federal Reserve to keep interest rates low.

The Fed surprised investors late Thursday when it raised the so-called "discount" lending rate on emergency bank loans by one-quarter point to 0.75 percent. But Fed officials on Friday were quick to downplay the possibility of across-the-board rate hikes.
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