Rising Gas Prices Brewing Perfect Storm
“You’re adding an oil shock on top of a crunch on credit and a housing collapse. Even the U.S. economy cannot withstand all of that at the same time.” Nigel Gault, an economist at Global Insight, didn't mention falling new car sales or millions of endangered auto loans in his analysis of the impact of rising U.S. gas prices. But then, he didn't have to. It's been clear for years how this one will shake out, with truck-heavy domestics losing both sales and market share. The New York Times says that when it comes to American gas prices, the only way is up. "Energy specialists predict that, as demand picks up further this spring and summer, retail prices will surpass the high of $3.23 a gallon set last Memorial Day weekend." Surveying the supply, demand (both international and seasonal) and production equation, AAA spokesman Geoff Sundstrom reckons we could see $4 a gallon gas this summer. “We’ve gone from a worrying situation for gasoline to one that is quite alarming." Meanwhile, automakers placing their bets on oil burners will not be happy to read that "on Tuesday, diesel prices rose to a record $3.60 a gallon, compared with $2.62 a gallon last year."
Donal, Being in DC, it can be surprising how often people here make the analogy (Moscow-on-the-Potomac), or refer to the White House as the Kremlin. One difference technology makes--we can use Photoshop instead of airbrushing to get rid of the Unfavored from photos of the [s]Politburo[/s]Cabinet.
There's a reason why people are moving big into rail. http://www.thetruthaboutcars.com/editorials/congestion-charging-at-the-energy-lean-buffett/
bill h, Orlov's take went far beyond political analogy: The Soviet Union and the United States are each either the winner or the first runner-up in the following categories: the space race, the arms race, the jails race, the hated evil empire race, the squandering of natural resources race, and the bankruptcy race. In some of these categories, the United States is, shall we say, a late bloomer, setting new records even after its rival was forced to forfeit. Both believed, with giddy zeal, in science, technology, and progress, right up until the Chernobyl disaster occurred. After that, there was only one true believer left. http://www.lifeaftertheoilcrash.net/Archives2008/OrlovLessonsPartOne.html http://www.lifeaftertheoilcrash.net/Archives2008/OrlovLessonsPartTwo.html http://www.lifeaftertheoilcrash.net/Archives2008/OrlovPartThree.html