As Crude Hits $117.6 on Weak Dollar, Nigerian Rebels Blow Oil Pipelines - The Power of Hip Hop

Yo I'm livin' in this time behind enemy lines
so I got mine, I hope you ("got yourself a gun")
You from the hood, I hope you ("got yourself a gun"
you want beef I hope ya ("got yourself a gun")
And when I see you I'ma take what I want
so you tried to front, hope ya ("got yourself a gun")
You ain't real, hope ya ("got yourself a gun")
Nas

By Moming Zhou & Polya Lesova, MarketWatch

Crude-oil futures fell slightly Monday, after soaring to a record high of $117.60 a barrel earlier in the session, as weakness in the U.S. dollar and concerns over supply disruptions underpinned prices.

Crude oil for May delivery was down 42 cents to $116.26 a barrel on the New York Mercantile Exchange in early afternoon trading. Meanwhile, average gasoline prices hit another record.

The Movement for the Emancipation of the Niger Delta, or MEND, said its members blew up two more oil pipelines in southern Nigeria, the Associated Press reported Monday.

Crude hit the new record as "the dollar is down again and the Nigerian rebels MEND made good on their threats to have more attacks in Nigeria," said Phil Flynn, vice president of futures brokerage Alaron Trading.

In the currency market, the dollar index, which tracks the greenback's performance against a basket of other major counterparts, dropped 0.5% to 71.59. The falling dollar increases the attraction of crude as an investment alternative and pushes up crude's dollar-denominated prices.
CNulan said...
Here you go - there are plainly limits to dopamine hegemony in other people's backyards. What's more interesting to me, however, is that an easy solution to the domestic energy crisis is as close as our own backyards - assuming that the barriers of consensus reality would miraculously drop.