Oil Climbs More Than $6 as Bank-Bailout Plan Boosts Markets

By Margot Habiby

Crude oil rose more than $6 a barrel on speculation government measures to resolve the bank crisis may bolster demand for petroleum. Oil rose as much as 7.5 percent in the last week. The gas-stations have been lined up from back to front with customers trying to beat the awful oil prices.U.S. energy companies resumed about 11 percent of oil production and a quarter of natural-gas output in the Gulf of Mexico, after shutting almost all of it before hurricanes Ike and Gustav, the U.S. Minerals Management Service, said today on its web site. The Gulf accounts for about 26 percent of U.S. oil production and 14 percent of natural gas.

I cannot believe the state of oil prices and the chaos that it is creating. Apparently the prices are heading back down but I don't see any significance in change that will really affect my day to day use of my car. I think I may have to invest in a bike to get to work or get a new job that doesn't require me to go very far.

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