Originally Posted By: NHHEMI
They blammed the price of crude. I called BULL on it to all of them. Crude is only in the low to mid 80's. If it is crude based why is the oil almost 2X's as much as it was selling for when crude was $95, $100, $120 $140, etc... a barrel?
Don't blame the oil companies. You can thank Ben Bernanke, Money Printer in Chief, of the Federal Reserve, and his co-conspirators in DC.
Good ol' Ben has promised to keep interest rates nailed to the floor through 2013, so expect more of this.
An for what it's worth, Brent is probably a better measure of the real cost of oil these days - $110ish this morning.