Costly Summer

April 13th, 2006 by Anand

With the on going war in Iraq, tensions & instability in Nigeria, unfriendly relationship with Venezuala and the tension over Iran’s nuclear ambitions have pushed the price of oil to soaring heights. With many families like us planning for their summer get-away seems like the trip budget would be up by almost 50 to 100 $ towards gas if traveling an average distance of 500 miles.

Analyst predict that a barrel of oil would reach 80 to 90 dollars before the end of summer,. What does this mean to customers like us? Currently at 68$, the consumers pays roughly 2.75$ per gallon. A 10$ raise would not only increase the gas price but also pass on the raise to other segments like commodities, hospitality & transportations. Ultimately it would be consumers like U and me paying more for this summer.

As said in Godfather by the corrupt captain McCluskey “You gotta go, you gotta go”. So it’s inevitable until we kick this oil addiction and switch to better and efficient fuel.

BTW have U noted the text that appears on the apprentice. @ The end it say “its just business”. Seems like a straight lift from Godfather. The dialogues are said by Michael Corleone to Sonny: “It’s not personal, Sonny. It’s strictly business”.

Few more current issues topics to write about. Will post on it soon. Till then enjoy and have a Happy Easter & A Happy Tamil New year. Shortage of chocolate for this Easter was the discussion topic on one of the financial new channels this morning. Guess where, in Africa. Dude come to reality, there is shortage of food out there and not chocolate.

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