8.12.2005

that sticky icky

Kevin Drum is right to assume that the run up in the price of oil is due to fundamentals. Due to the nature of my work, I pay close attention to the price of oil, and it's not coming down any time soon. I was talking about this with my wife during dinner, and she asked me what I thought could possibly bring the price of oil down significantly, and the only thing I could think of is if the mideast became completely peaceful overnight some day soon. Save for that miracle, we can expect to see $75 a barrel long before we see $50 again.

No comments: