Bill Barnhart | Market report
September 13, 2007
Now that crude oil futures have hit a milestone, $80 a barrel, expect chatter around the water cooler and urgent remarks by politicians.
“It is a psychological threshold; there is no doubt about it,” said Antoine Halff, head of energy research at Fimat USA.
What follows are some talking points you can use to contribute to or at least evaluate the inevitable reactions:
– Oil prices have been rising for several years, as industrial use expands globally and more people drive more cars more. A new tropical storm in the Gulf of Mexico, sabotage affecting Mexican oil output and a refinery disruption at BP’s Alaskan operations sparked the latest move.