$250 a Barrel

Posted By: Dr. Frugal in Economics on 11/06/2007 at 07:26:50

$250 a barrel! Wow. According to the Financial Times, "'Options calls of strikes well over $100 a barrel are being bought by the thousands,' said Nauman Barakat of Macquarie Futures in New York." I think that's a little ridiculous. That would have most US consumers paying over $7.50 a gallon and I can assure you that if that were the case there would be so much pressure on the government representatives some other course of action would be taken. $250 a barrel. Come on.

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