Ohio Wins I-Bowl
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10:30am 4-15-08 OIL SETS NEW RECORD: $113 a Barrel; Unleaded Regular Now $3.38 Gal.
Now here's the REALLY BIG QUESTION: Can $150 a barrel be far behind? More importantly: Can Americans still afford to continue their love affair with those gas-guzzling big trucks?
According to CNNMoney, traders are not taking into account Monday's news that Brazilian oil company Petrobras (PZE) may have made the largest oil discovery in 30 years.
According to Harold Lima, president of Brazil's National Petroleum Agency, the off-shore find could contain the equivalent of 33 billion barrels of crude, the world's third-largest oil reserve.
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