What's the fuss about 'HIGH OIL PRICES'? High compared to what? Oil prices of the 1960s? In fact we pay people for doing nothing so that they can afford driving around around in their limousines. It doesn't follow from this that the guys pumping up that valuable stuff should also give it away for free. Ever tried to compare real estate prices between 1965 and 2005? Ever tried to compare the price of groceries between 1965 and 2005? Ever tried to compare the price of a NYC subway fare between 1965 and 2005? So what? Stop sulking and pay for your gas.
If u dont care whether crude get to $100/b then u are either a propaganda poster from CNBC, Mr Kudlow in disguise, or u failed badly at economics.
they will definitely care...they may not admit it on here but they WILL care. $100/barrel will take a huge bite out of this market. companies that are struggling now will be history. kudlow is a POS.
Yeah but Ritter was right. So really, the WMDS did not exist. Also, I am not sure that he is doing all of this out of greed like you seem to suggest. Clearly, the way he has been treated so far, you'd think there would be an easier way for him to make a living.
If you are looking to get the same purchasing power as in 60's, oil prices are still very low. If we end up 50 years later with similar purchasing power, what was the reengineering, firing, unemployment for?
Following same logic, it would make sense blowing up highways here and there and rebuilding them, thus providing employment and inducing growthâ¦
Blessing? Man, what have you been smoking?! Here's an interesting simulated oil crisis scenario. Higher oil prices will NOT be good for the economy no matter what you might think. Don't be too narrow and think of outsourcing and hurting them. Higher oil prices hurt the ENTIRE GLOBAL economy. Not just "them". =========================== Simulated Oil Crisis Raises Eyebrows http://www.foxnews.com/story/0,2933,160551,00.html "In the simulation, oil prices rise to $82 per barrel and gasoline is $3.31 per gallon. On top of it all, a few weeks later terrorists strike oil and gas installations in Saudi Arabia as part of a major terrorist attack. Damage is limited but another 250,000 barrels a day are lost to the markets. Oil shoots to $97 a barrel; gasoline leaps to $4.05 per gallon. But that's not all in this exercise. Following up on Usama bin Laden's (search) promise to attack the U.S. economy, terrorists hijack a tanker and crash it into one of America's key oil facilities, setting most of the Valdez, Alaska, port on fire. "Valdez ships about 1 million barrels per day, down largely to the West Coast," said former CIA Director James Woolsey. In this scenario, the price of crude goes to $123 a barrel and gasoline is $4.75 a gallon. The economy staggers, consumer spending drops by almost a third and 850,000 jobs are lost. Think it's impossible? The experts say it's not."