Oh, and the news gets worse, if you're a Democrat; IRAQI OIL IS COMING ONLINE!
When we have had these uptics in the last 40 years they have promptly been accompanied with inflation due to increased demand for and static supply of, petroleum. NO WAY THIS HAPPENS WITH THIS EXPANSION!
No but inflation will be back in a big way unless Republicans in Congress get government spending back under control. There is way too much fiscal stimulus out there right now, and in the coming years we will see unacceptable levels of inflation. Congress needs to slash its budget in a big way or we will see some real problems.