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Oil Hits Record Price. Gas Nearing $4.00. President Bush, Clueless

Posted on February 29, 2008

Happy Friday! Oil hit record-prices today: $103.05 per barrel. Bully for us...That tops the inflation adjusted high of $102.53 set in 1980. Oil first inched over $100 to welcome in the new year on January 2nd and has hovered around $100 since then, routinely spiking into new record territory. Now we've blown past the final record: the inflation adjusted highs reached in the '80s.This news comes as analysts predict $4.00 per gallon gasoline when refiners switch over to reformulated blends in Spring.Of course, you and I already know that. We see it every time we drive past a gas station, or...

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