Sports Illustrated cover award pending
The lede in a Washington Post story suggests that oil prices are never going to decline much from their recent peak of $147 a barrel:
This Time, It’s Different
Global Pressures Have Converged to Forge a New Oil Reality…this oil shock is different. There is little prospect that drivers will ever again see gas prices retreat to the levels they enjoyed for much of the last generation.
Maybe the Post piece is correct. But there’s an awfully long history of “this time, it’s different” being the pride that goeth before the fall.
July 29th, 2008 at 2:02 pm
This Time, It’s Different.
With the help of the Democratic Congress, that’s true. We’ve got oil, off the coast and in Alaska, and in shale and tar sands that are exploitable at far less than current prices. We can’t develop them. The cure is to get rid of the Democrats in Congress.
Yesterday’s announcement of a record deficit ought to be sobering. We cannot afford these clowns anymore. I’d bet anyone campaigning on a 10% reduction in Federal spending and opening up domestic energy production would win in a landslide. Their opponent might carry Maryland and Virginia.