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  • Is Cheap Oil Compatible with Growth? [View article]
    the only way to save the US economy in the long term is adoption of a strategic long-term comprehensive energy policy:

    thefitzman.blogspot.co...

    we are entering an era in which worldwide oil supply will simply not keep up with worldwide oil demand. the current low prices of oil and gasoline are simply due to the drastic demand destruction as a result of the financial crisis, the US, which imports 70% of its oil from foreign sources, is the most exposed economy on earth to the realities of future oil supply/demand realities. yet, our politicians, media, and the public in general just keep ignoring the magnitude and challenge of this oil crisis. you'd think $145/barrel and $4.50/gallon gasoline would have taught them something. on the other hand, i think obama "gets it", but his windfall profits tax comment and lack of focus on domestic natural gas and NGV's as a great way to reduce oil imports still leave me with lingering doubts.
    Dec 18 09:51 am |Rating: +3 0
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