Speaking of oil prices, here’s an article that is super-duper optimistic that the oil price spike we are seeing now will collapse in short order and soon we will again be paying a lot less at the pump. I think the article is way too optimistic but I’ve believed for some time that the speculation bubble currently driving up the cost of oil will burst and prices tumble.
I don’t think we’ll ever see gasoline under $2.00 a gallon again but the $4.00 price soon may disappear for a while. However, we’ll all start using more gas again and the slow climb back up to higher prices also will return. In the long run conservation and alternative energy sources are what is needed to keep energy cost stable and affordable. Price shocks like the one we are experiencing now serve as good wake-up calls and spur innovation, and that may be worth the price.