Oil prices spike as Hurricane Gustav nears Gulf
10:04 AM Tue, Aug 26, 2008 | Permalink
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Oil prices swung rapidly higher Tuesday as Hurricane Gustav threatened major oil operations in the Gulf of Mexico, according to The Associated Press. After falling close to $112 per barrel in overnight trading, light, sweet crude for October delivery spiked $2.33 to $117.44 a barrel on the New York Mercantile Exchange, a $5 swing. 
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Pelosi and Reid, who are against oil drilling, wanted to use our strategic oil reserves, as a way to pander to the public for democratic votes. Now, we have Hurricane Gustov, which is going to put a strain on our oil supply. Our strategic oil supply is supposed to be used for emergencies like this hurricane, or for oil disruption due to terrorism. This just reminds us of how irresponsible politicians like Pelosi and Reid really are!!!
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