Wednesday, January 02, 2008

The $100 A Barrel Oil

A trader's wish to be the first to purchase oil at $100 is the reason why we are going to see higher prices shortly.

The man behind the record rise in oil prices to $100 a barrel was a lone trader, seeking bragging rights and a minute of fame, market watchers say. "He paid $600 for the right to tell his grandchildren that he was the first in the world to buy $100 oil."

Would you really want people to know that you've pushed up the price of gas? Given how people feel about the high cost of gas, that might not be such a good idea.

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