Tuesday, April 26, 2011

People Need to Grow Up II: High Gas Prices

Not only do we have 12-year old level sniping over failed pol's families, but the whine over gas prices is rising.  We were warned about this scenario back in the 70s and got the first hit in 2008.  Its likely we've hit the production peak and are seeing waves of supply constriction, aggravated by the Middle East unrest and rising demand from China and India.
The head of the Bureau of Ocean Energy Management, Regulation and Enforcement, Michael Bromwich, put it best: "The problem is, not enough people are listening.You can't drill your way to lower oil prices. It's a world market. We have a very limited impact on that."
People don't want to hear that though, they've already forgotten what happened a year ago.

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