The U.S. Oil Mount Everest

Oil futures shot above $140 Thursday, and then retreated slightly to settle up $5.09 at a record $139.64.

In after-hours electronic trading, prices rose as high as a record $140.39.

Some speculators believe oil prices could rise to between $150 and $170 a barrel by later this summer.

Furthermore, U.S. President George W. Bush is in almost a shouting match and being threatening with some of the OPEC countries that are doing there best in this situation, which is not helping matters.