Oil Tops $118
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News item: Oil prices hit $118 / barrel
In a related development, here’s an image of the new alternate “gasoline scrip” being considered for issuance this summer by the Bush administration a consortium of oil companies:
It is anticipated that the scrip initially will cost $5, or 10 for $50. The good news is that this scrip will also be good for heating oil and/or natural gas purchases during the heating season. The bad news is that the scrip will not be indexed for inflation - in other words, one scrip note could cost $7 by Christmas.
Happy Motoring! [/snark]
By Christmas? Hey, people who get coal in their stockings are going to be happy for it this year, thanks to Bush Administration policies. Indeed, there may be brides out there now who are hoping for a ring with a nice big hunk of coal in it rather than a diamond.
Funny. I distinctly remember Jorge Bush saying it was the responsibility of the federal government to be sure the monopolistic oil companies don’t take advantage of American voters.
Seems like it was another stated promise that he has miligated…