Oil already crossed the $142 rubicon today, though back at about $141.40 as of this writing.

Was reading something yesterday written waaaaayyyy back in 2005, when the author commented about how oil had risen $5 within one week, and that was a big deal. These days we get $5 swings on a day-to-day basis. The volatility is nuts. Portends rough seas ahead, that’s for sure.