The Daily Sandwich

"We have to learn the lesson that intellectual honesty is fundamental for everything we cherish." -Sir Karl Popper

Location: Boston, Massachusetts, United States


Tuesday, June 28, 2005

Oil prices hit all time high. New Humvee model unveiled.

Saudi Arabia prices it, America keeps drinkin' it down. Too bad we still have to wait a few years for an administration that might actually give a damn. This is just the sort of issue that Democrats should be using to hammer the GOP-- red state xenophobes would eat it up

Oil prices rose a dollar to a new record near $61 Monday, driven by the resilience of world energy demand in the face of high fuel costs and worries about oil policy under Iran's new hardline president.

Economic resilience has encouraged speculators to test consumers' ability to absorb higher costs, with only a significant pull-back in demand from an economic slowdown seen likely to tame prices.

"The only cure for high prices is in fact high prices," said Nauman Barakat at brokers Refco in New York. "If you look at demand globally, high prices have had very little negative impact."

To be fair, the new "H3" (wow, even the name could kick yer ass) is smaller than its predecessors.