U.S. crude rose $2.22 to $76.98 a barrel, after hitting $77.30 earlier in the day and within striking distance of the record $78.40 hit in July. London Brent rose $2.13 to $78.30, after hitting a record $78.64.
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BP Plc (BP) said Sunday it was shutting its 400,000 barrel per day Prudhoe Bayoil field for repairs, after discovering severe corrosion on a pipeline. Officials said it may take weeks or months to replace two pipelines and resume production on the largest U.S. oil field.
Expect already high gas prices to jump even higher, folks.
Good news for Bob Corker and his Big Oil cronies, bad news for us consumers.
Are you fed up when you fill up? If so, vote Ford this fall!
Days of Congressional Inaction on Ethics
Above is the number of days that have passed since Jack Abramoff pleaded guilty to bribing Congressman.
It is also the number of days in which Congress has failed to pass an ethics reform bill that would limit private travel, ski and golf junkets, and would call for a full disclosure of expenses by lobbyists on members of Congress.
It is time for Congress to step up and pass an ethics reform bill that would do all of the above. In addition, it is time to end the pork barrel spending system as we know it and establish an independent ethics commission that would review ethics complaints against members of Congress.
I am proud Congressman Harold Ford Jr. is fighting for that reform!