Oil prices dropped for the second straight day. The stock market is rising except oil stocks which are falling. Somewhere a Chevy showroom is dusting off a Tahoe in the hopes they'll finally be able to sell the incredible hulk. Are happy days here again.
Probably not.
According to the NY Times: Chip Johnson, the president and chief executive officer of Carrizo Oil and Gas,
a Houston-based company, said he was “confused” by “such wild swings.”
But he added: “I can’t see oil getting cheap again ever. It’s just too
hard to find, and too many people want to use it.”
Right now, in San Carlos, CA it is 96 F outside, by my count, the 12th day of 2008 tht has topped 90. Last I heard, our Forest fires were less than 300, down from 1300 about a week ago.
These dots connect, or so it seems to me. There are two compelling reasons to get away from fossil fuels as fast as possible. The first is the compelling case that it is getting warmer, most years and will continue to do so. The second is the sheer economics of the situation. Even if fossil fuel was clean-burning we simply cannot use it as much to heat our homes and power our transporation. Actually, there's a third reason: Most of the countries that have the stuff don't like us very much.
Gotta go fill up my Acura. Heard a rumor premium is down to $4.75 at the Olympus station.
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