HealthAndSurvival.com

Perhaps expensive gas will help solve the  obesity epidemic.   Seriously, people will probably be  less likely to drive to a neighbor’s  home  or supermarket  if they will have to spend $7 a gallon on gas.  The result will be more walking and less driving.

Gas at $200 a barrel will have catastrophic  consequences on US families, perhaps pushing us to a 3rd world status.   An article I posted earlier suggests that what we know about oil and its limitless supply may not be entirely true.  Also, what if you could run your car on water? Whatever the truth is- $200 /barrel will likely lead to the end of our economy as we know it.  I doubt Obama or McCain can save us.

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By Sambit Mohanty

SINGAPORE (Reuters) – JPMorgan Chase & Co will begin trading physical oil by year-end, increasing its exposure in a market that could rise to $200 a barrel, the bank’s global head of commodities said on Wednesday.

The bank plans to expand in commodities and energy trading, Blythe Masters said, despite expectations of job cuts in other areas as it prepares to take on staff from Bear Stearns at the same time it deals with turbulent financial markets.

“We will start trading in physical oil and refined products by the end of this year,” she told Reuters in an interview.

JPMorgan will join a growing list of investment banks from Goldman Sachs to Barclays Capital seeking to boost profits on their big derivatives trading desks by gaining a foothold in physical markets.

The third-largest U.S. bank added 50 people to its commodities and energy trading and investment team last year and is on track to hire a similar number this year, taking the strength of the total team globally to 450, Masters said…. read rest of story..