Crude oil from the “light end of the barrel” hit $120 this morning. Forget what Bernanke and the MSM are telling you. They keep showing the WTI price. Even supposedly smart guys like Mark Zandi have said recently that $100 oil is not a problem for the US. Wrong. The US needs light crude for the gulf refineries. And consumers will be paying $4 a gallon before Zandi or his pal Bernanke can catch their breath.
By. Bruce Krasting