Dollars & Sense: Oil surging; cashing in on China luxury
February 21st, 2011
10:15 PM ET

Dollars & Sense: Oil surging; cashing in on China luxury

A roundup of today's CNNMoney news:

Libya: Why the oil market is nervous: Libya produced about 1.65 million barrels per day of crude oil in 2010, making it Africa's third-largest crude producer. It’s not the biggest producer, by far, but oil prices surged by more than 6% on Monday, and further chaos in the region could send crude prices spiking more.

U.S. oil prices don’t matter at the pump: Gasoline prices in the United States have jumped 5 cents in a week, according to AAA.

What if the U.S. government shuts down?: If lawmakers don't pass a funding extension by March 4, the government will shift to performing essential operations only. That could mean that government workers would stay home, national parks and museums would close and cleanup at toxic waste sites would stop.

7 luxury spring break rentals: From Costa Rica to Mexico, many people are choosing vacation home rentals over hotel rooms.

Electric Rolls-Royce: Earth-conscious millionaires wanting to cruise in luxury may be intrigued by an all-electric Rolls-Royce Phantom to be unveiled at the Geneva Motor Show on March 1. The car will be used to research range and performance as well as to gauge public reaction to the idea of an electric Rolls-Royce.

China loves Louis Vuitton, and so will investors: The number of millionaires in China is growing. Many of them are under 40 years old and they love their bling. As demand for luxury brands grows, so will their share price.

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Filed under: Business • Dollars & Sense • Economy
soundoff (13 Responses)
  1. Vanilla Vince

    Good thing the US has put an emphasis on domestic drilling and we're not relying mostly on obtaining oil from overseas producers who are dealing with unstable political climates.

    February 21, 2011 at 11:10 pm | Report abuse |
  2. MartinMars

    I like your sarcasm. Very nice.

    February 21, 2011 at 11:48 pm | Report abuse |
  3. RUFFNUTT

    What if the U.S. government shuts down?

    does this mean fort know will be unguarded?

    February 21, 2011 at 11:57 pm | Report abuse |
  4. floydullery

    Establishing a solid credit history can cut your insurance costs. Clearance Auto Insurance will get you the lowest rate even for low credit scored.

    February 22, 2011 at 3:58 am | Report abuse |
  5. Cesar

    Personny says that Israel is becoming a nation.

    February 22, 2011 at 5:57 am | Report abuse |
  6. tomcat

    Boy howdy...let me rush right out and get some of that "low cost insurance", then I can be like the Chinese and get my bling. Better yet, call these weasels and ask what the rates will be for an electric Rolls Royce. Come on, have some fun, leave the world's troubles behind... help insure the job security of their call takers. BTW...mention you read it on CNN for additional discounts. This message brought to you by ...tomcat..."fighting spam, one spammer at a time".

    February 22, 2011 at 6:12 am | Report abuse |
  7. Cesar

    "Clearance Auto Insurance," ok, I have a tatoo of it on my body.

    February 22, 2011 at 6:28 am | Report abuse |
  8. banasy

    Be careful, tomcat and Cesar, I was being called a hermaphadite on another thread when I was poking fun at personny. At least when someone posts as you, Cesar, they're not being a *total* tool! Children will play, though, right guys?

    Here's my thought: there is *no way* I would even consider going on a vacay in Mexico, but what do you wanna bet that doesn't stop the spring breakers?

    February 22, 2011 at 8:32 am | Report abuse |
  9. tomcat

    banasy....I saw the fake right away...seems the "clone" likes RUFFNUTT too. I agree, Mexico for spring break, I'll pass.

    February 22, 2011 at 9:22 am | Report abuse |
  10. AMERICA 1st

    The only reason the oil prices is going up is the oil companies want to gouge up the prices to make their double digit profits. Stop giving money away to all the

    February 22, 2011 at 11:01 am | Report abuse |
  11. AMERICA 1st

    The only reason the oil prices is going up is the oil companies want to gouge up the prices to make their double digit profits. Stop giving money away to all the 3rd world countries that just stick it in the politicians pockets! AMERICA 1st!

    February 22, 2011 at 11:02 am | Report abuse |
  12. ed bailey

    Fu u again CNN!

    February 22, 2011 at 11:39 am | Report abuse |
  13. Field reporter/ correspondent

    This just in : banasy is a hermaphadite/ breaking news flash.com

    February 22, 2011 at 5:14 pm | Report abuse |