Ben Bernanke:2005, Chairman of the Federal Reserve (Washington Post)
And now we have this to contend with....
What will happen when we see this?
I think we're still in the eye of the storm....
There are positive things that will come out of this transition to high gas prices.
I am already noticing a lot less traffic on the LA freeways..... :)
However, this is going to be something we have not experienced in over 70 years.
This video by Richard Heinberg (from Oct 5, 2006 when gas prices were $2.73) helps explain why the price of gas will rise and rise. Maybe we will be $8 per gallon at the pump, but how soon?
June 8 2008
Global crude ... has risen more than $17 in two days.
http://www.guardian.co.uk/business/2008/jun/07/useconomy.oil
Oil Prices Take a Nerve-Rattling Jump Past $138
http://www.nytimes.com/2008/06/07/business/07oil.html?_r=2&hp&oref=slogin&oref=slogin
(Intuition tells me people are going mad!)
4 comments:
The link to the oil video detracts from your credibility. It's filled with half-baked conspiracy theory.
Oops I posted the wrong link. This has been updated now...
You have two different links - one for the chart and one for his name.
However, the guy still strikes me as a conspiracy nut and muckraker.
An oil truck crashed near the 580/80 interchange in Oakland, CA not long ago. The heat from the burning fuel was so hot, it melted the structural steel in the concrete causing a whole section of it to collapse.
Any investigative journalist would have explored this possibility (burning fuel) in the case of 911, instead of going off on wild conspiracy theorists.
The guy makes a living spreading fear, collecting appearance fees and selling dvds. I am one of the most die hard economy and RE bears out there, but using this guy to make your point throws your entire post into question.
Thanks, I appreciate your comments. Sorry for posting the wrong links.
I like your word 'muckraker' by the way!
So I used Richard Heinberg's presentation to do help my research for this post:
http://intuitiveblogger-intuition.blogspot.com/2008_03_01_archive.html
I am always open to feedback. I have not even looked or researched into anything related to 911. I was actually hoping to turn this blog into something positive that will encourage people to save energy. I am still doing research on this. For myself, I just bought an electric scooter and I have been going all over LA without spending any money on gas. I can plug in at work and in parking structures or free (at the moment). I know I am still using energy but it is a lot less.
I am glad you are a die hard economy bear and would love to hear more from you. Do you have a blog?
It gets interesting once you start collecting information.
Cheers!
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