OK, so it's no surprise that experts say we will run out of cheap oil within a few decades. That's been predicted before. Or that our foreign oil dependence puts us at the mercy of the members of OPEC, and a good number of the citizens of its member states would love to wipe us off the face of the earth.
But this? It basically says everything we knew about oil politics is turned on its head. High prices aren't a result of angry Arab nations, they are a result of our successful economy, which consumes more oil and drives up prices. Translation? Any time happy days are here again, we still won't be able to afford to drive anywhere, unless we are rich enough not to flinch at $3 gasoline.
Cheap oil prices, translating into cheap gasoline, will only then happen when the economy slumps. So if you want cheap gasoline, wait til you lose your job, then gas will be cheap enough to buy.
My head hurts. What do you think?
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