It has been a while since I have used this blog to talk about the state of the world. Much has changed since last July. for one thing, all my estimates for the price of a barrel of oil were way off. Today the stuff was over $123 per barrel.
Of course, the "value" of the dollar is down compared to nearly a year ago, as compared with the Euro, yen, and other major currencies. But oil has climbed more than the dollar has fallen.
There are those who say it is only a matter of time before oil prices crumble, and the price stabilizes down near $70 or so. Those people simply cannot imagine that the talk about demand beating out supply could really be happening, and that the result could be a continuing rise in the real price of oil.
Now Goldman-Sachs is actually talking about the possibility of $150 per barrel oil, and some pundits are pushing it to $200 or $300. The main stream media (MSM) and the powers that be (TPTB) are finally waking up to reality -- this awful tipping point some radicals have been talking about could really be happening!!
So we will see -- where will the price go? I need to think about that. Will the world indeed come to its senses and see we need to plan for the problems we are facing? I need to think about that, too.
More later.
Sam Penny
the Prudent RVer
