Always strive to learn something useful. --Sophocles

Such a wonderful world we live in! A nice long article on some of the ramifications of climbing energy prices. One thing that I was thoroughly surprised by was the line that oil was $10 a barrel less than a decade ago!

I love this snippet: "...some analysts see a shift toward regional trade, and even a major reversal of globalization itself, as rising transport costs make it too expensive to ship many kinds of goods long distances. A major acceleration in the transfer of wealth that has, in the past five years, shifted trillions of petrodollars from oil consumers to producers would alter the world balance of power—including a boost for the troublesome oil autocrats of Iran, Venezuela and Russia.

http://www.newsweek.com/id/139395/output/print


Oh, but everything's OK! OPEC wants to have talks with producers, refiners, and consumers of oil! So I'm sure everything will work out in the end.

http://news.yahoo.com/s/ap/20080609/ap_on_bi_ge/saudi_oil;_ylt=Am9LQ8JQBRGckeIsPFZ8zFGyBhIF


Never mind that "Tens of thousands of truckers in Spain, France and Portugal on Monday stepped up protests against rising fuel prices, causing mayhem on highways and blocking border crossings."

http://news.yahoo.com/s/afp/20080609/ts_afp/europeinflationprotestenergytransport