Commentary on the present and future of culture, politics, economics, and social values................... "At any given instant/All solids dissolve, no wheels revolve,/And facts have no endurance." W.H. Auden.

Friday, March 18, 2005

The Price of Oil

The news media reported that yesterday the price of oil rose above $56 a barrel, the highest price in history. There seemed to be little public reaction. This ho-hum response shows why the price will continue to rise. Unless the public gets up in arms over the rising price, makes political protests, and begins self-rationing, the price will continue to climb.

As long as the increases are gradual, they will continue unchallenged. Look for the price of oil to rise to $100 a barrel over the year ahead.

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