Oil Prices hit a Record $123 a barrel

Today, Wednesday May 7th, a new record has been set for the price of oil at $123 per barrel.

According to the New York Times, investors and traders are still worried about the increasing demand of oil. If these prices climb any higher, this country could fall apart. Some people say that the weakened US Dollar is to blame.

This ultimately means that the national average of gasoline could hit $3.75 by June. More money at the gas pump means that more media coverage will be dramatically covering the issue. More media attention should convince people to pressure the government into really finding a solution to the problem.

President Bush had already said that he would like to open the National Arctic Refuge in Alaska for drilling. But will the environmentalists let him...I don't think so.

Thought, Comments, Questions...