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Thursday, June 26, 2008 12:00 AM

Why $140-a-barrel oil is no surprise

It took awhile, but the market finally realized there's only so much of that black gold to go around.
Andrew Leonard

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  • Thursday, June 26, 2008 05:51 PM

    This is a Salon red letter day

    All the radicals must be cheering. The President of OPEC said today to expect $170 oil THIS year, the latest. Wait a few weeks for production to slag off and match a few % points decrease in consumption. Gas $7/gal by end of the summer, easy. Then the fall switchover to a different forumulation. $8 by early Nov. This time next year $10/gal. Americas is pretty much looking at the end of their own nation in the next 20-24 months. Food shortages, riots, civil uprisings. The 'country' such as it is, will be little more than a national army/police force trying to hold together a handful of states that haven't seceded and plunged into Mad Max anarchy. This IS what everyone's been hoping for, yes? Stick it to Da Man!

    —Gustatus Similis Pullus Read Gustatus Similis Pullus's other letters

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