Tuesday, October 16, 2007


Yesterday afternoon I read on Bloomberg:

Crude oil for November delivery rose $1.61, or 1.9 percent, to $85.30 a barrel at 12:30 p.m. on the New York Mercantile Exchange. Futures reached $85.48, the highest since the contract was introduced in 1983. This is the fifth straight daily increase. Prices are 46 percent higher than a year ago.

Today's intraday high passed the previous all-time inflation-adjusted record reached in 1981 when Iran cut oil exports. The cost of oil used by U.S. refiners averaged $37.48 a barrel in March 1981, according to the Energy Department, or $84.73 in today's dollars.

and emailed the quote to my partner David. (The price eventually hit $87.97 and, as of this morning, is only a few cents less.)

David wrote back:

"Let’s have latkes tonight to commemorate the occasion…"

Bring out the potatoes and the grater....


Margene said...

Maybe I can get Smith to 'commemorate' in the same way. His latke's are fabulous.

Kat said...

Mmmmm.... yummy.....

I don't suppose you deliver??

I'm sickened by the price of oil and wish the world could at least be bothered to change their ways for only one day a week..... anyway....

Looks yummy - so about that delivery to MI?


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