Eagle-Chief

The Reverse Wealth Effect

Chris -

good article, however, your point about the price of oil increasing because of "....it is becoming increasingly difficult and more expensive to get oil out of the ground. Much of the world’s low hanging fruit has already been snatched from the oil patch."
C'mon, Chris. Think about it. If we believe this, we're all being taken for a bunch of suckers. Other factors such as government policies (not allowing for drilling in many parts of the USA, especially offshore) affect the price of oil. Turmoil in the mideast may also adversely affect the price of oil, and the falling dollar is a huge factor. But your argument above, no Chris, I don't fall for this one.

Take at the one year crude oil spot price here:
www.wtrg.com/daily/cls...
Oil went from about $65/barrel one year ago to $138/barrel today.

C'mon Chris. Think again. We're being taken for suckers.