Someone over at Balloon Juice argued the other day that rising gas prices is a good thing. That it’s forcing people to go ‘green’. Well, that may be a valid point, but I won’t call it a “good thing”. With the economy the way it is, many families are living from paycheck to paycheck. Only the wealthy are able to cope with the high prices. Winter is upon us and many are worried about how they’re going to stay warm.

And this is a good thing???

Analysts say the market is now looking at $100 a barrel as the next target to hit.

The declining U.S. dollar and speculation that the U.S. Federal Reserve will again cut interest rates also boosted prices. Some investors put their money into oil contracts, betting that gains in their price will offset dollar weakness.

“The market is now really looking at $100 a barrel as the next target to hit,” said Victor Shum, an energy analyst with Purvin & Gertz in Singapore.

“The fact that we are having this surge in pricing in this short trading week underscores the strength of this bull run for oil.”