Friday, July 14, 2006

$78 Oil? Wait for $100

Somehow, the news today is reminding me of the summer of 2004 -- all of two years ago. We had a presidential election coming up that fall, and I remember passing signs on gas stations, on my way to work, that offered self-serve unleaded regular for $1.89 per gallon. I thought at the time that those signs said, in effect, "Kerry for President." I was quite mistaken -- or maybe that was in fact the message, but the electorate was unconvinced. Properly so, too ... Kerry would've done substantially the same things Bush has done.

I won't repeat the error now. If, as seems possible by fall, the signs say $3.95, that likely won't elect many Democrats to Congress. Not only has the art of gerrymandering effectively election-proofed most Congressional districts, but the Democrats have proven themselves an incredibly pathetic opposition party. The most likely medium-term future that I see from here involves a soggy-cardboard-style economic collapse, resulting from the building debt tsunami. Fasten those seat belts, and hold on tight!


Craig said...

This is why I'm skeptical about any threats towards Iran. If they turn off the crude spigot we're going to have bigger problems than an aggressive Israeli military.

Bartleby said...

Craig, I earnestly hope your skepticism is well-founded. You write that we will incur big problems if we attack Iran and thus cause Persian Gulf oil supplies to be shut off, and I agree ... with the usual reservations about who "we" is/are. I think Our Glorious Supervisors are personally rather well-insulated from such problems, and can thus make their cost-benefit analyses in a highly detached sort of way. God help us all.

Robert Rouse said...

I recal when gas first went over $2.00 a gallon thinking, "they'll lower it for a bit now that people are in shock, but when it goes back over $2.00, people won't feel as bad since they were used to it being at $2.00." Now that it's hit $3.00 and over, it'll go back down for a bit, then gradually inch its way toward $4.00, and the process will begin again. Kind of sad, but when you have a VP who allowed the oil execs to write their own rules and regulation,s what else can we expect?