Fundamentals? Or financial flows?

As oil approaches the $100 per barrel marker, decide for yourself. As reported in the FT.

Not that long ago $80 a barrel was considered damaging for the world economy, yet here we are seeing the $100 barrel around the corner.

And yet some of the big boys are already profiteering. On my journey across the south coast last Sunday I spotted diesel offered at a lowest price of 98.9p/litre, more commonly something like 101.9 to 102.9p/litre, but some Texaco garages had it priced at a staggering 108.9p/litre. I hope the greedy bastards go bust! (Fat chance!)

The sad thing is that it will ALL be at that level before long. And guess who benefits the most? All that extra tax goes straight into the government's coffers. More cash for additional quangos, targets and surveys then?