Marcus Aurelius

Energy Bombshell: China Raises Oil and Diesel Prices

Every analyst I read who claims we are in the middle of a speculative oil bubble in no way denies what the long term trend is.

It is a bombshell. There was the usual griping at $3.00 per gallon over here but GM kept all of its light/consumer truck plants cranking out Suburbans & Tahoes.

Now the Chinese consumer has to pay more realistic prices they will be more conscious of their gas consumption. Funny, how some people bemoan the fact we only pay $4.00/gallon or so for gas while in China they pay even less.