Skip to comments.The Next Oil Shock
Posted on 05/31/2009 7:52:56 AM PDT by WhiteCastle
A top expert tells Congress that oil will be around for a long time and high inventories and low prices are no excuse not to find more. Oil shock? How about a no-oil shock? Be careful what you wish for, goes the old proverb. Well, as we all had hoped, energy prices have fallen but only as part of the global decline in economic activity. This has been used as an excuse to further discourage exploration for and development of domestic oil resources. But if the economy does recover, that policy could provoke another recession.
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I’ve read a prediction of high oil prices ahead, boosted by some pickup in demand later this year - but driven more by inflation and weak US dollar, and efforts by China and others to buy up commodities to replace the US Dollar as a haven.
So we face inflation, then more deflation and then the commodity bubble bursts (after or about the same time as the housing and financial bubbles burst) ... voila, the great depression of 2009-2013
Unfortunately we are being led by “obama” and advisors who are academic radical liberal inexperienced ideologues (look at Steven Chu) who are literally jousting at windmills as a long term energy solution to sustaining a survivable quality of life (notice I did not say sustaining our quality of life, which is fading into deepening twilight)
Have Steven Chu and Carol Browner painted the roofs of their houses white yet?
Is there a connection between the price jumps of a year ago and the tanking of the economy? (Perhaps when disposable income of the moddle class is directed toward immediate transportation costs, there isn’t enough left to meet mortgage obligations.)
It just keeps coming up from the "Deep Hot Bio-sphere"
My theory is that is what was created intentionally by the Dems in Congress
I see they are pimping up oil prices AGAIN with this usual bullshit! Been seeing this same nonsense since the 70’s!
This is the market allocating resources. That's suppposed to be a good thing.
I don't believe in global warming....just have a white roof.
“But if the economy does recover, that policy could provoke another recession.”
Which will give them another excuse for another “stimulus,” where they will waste more $$ and take away more of our freedoms.
...energy prices have fallen -- but only as part of the global decline in economic activity. This has been used as an excuse to further discourage exploration for and development of domestic oil resources. But if the economy does recover, that policy could provoke another recession.