NYTimes reports on the G8:

One item not discussed, despite wide expectations that it would be, was currencies, and particularly the possibility of intervention to prop up the slumping United States dollar. Japan’s finance minister, Fukushiro Nukaga, the host of the meeting, said currencies were discussed only on the sidelines

Wow. This is bad, bad news and today I went looking for some sort of car that gets good gas mileage and its beyond the pale disgusting how little choices there really are. Does anyone else think it strange that there were better gas mileage cars around in the 1970's than there are today?

Oil Rises Above $133 on U.S. Supply Drop, Bank Price Forecasts :

Crude oil rose to a record above $133 a barrel as U.S. stockpiles unexpectedly dropped and banks raised price forecasts because of supply constraints and demand growth.

Inventories fell 5.32 million barrels to 320.4 million last week, the biggest drop in four months, the Energy Department said. Oil for December 2016 delivery rose more than $20 a barrel, or 17 percent, after Goldman Sachs Group Inc. on May 16 raised its outlook to $141 a barrel for the second-half of the year.

Now something must be rotten in Denmark for this to occur, or is it just the tanking dollar?

Oil Nears $123 on $200 Oil Prediction: