Tuesday, September 12, 2006

Weeeeeeeeeeeeeee

The price of crude oil has fallen ten bucks or so in the last week, so naturally gas prices will fall along with it.

Don't take it to heart too much.

Ken Deffeyes, former Shell Oil engineer, currently a Princeton geology professor and author of "Beyond Oil" explains: "The expectation of most economists is that oil will rise to a new equilibrium price. In their models, oil from more expensive sources and reduced consumption will combine to match supply and demand...(but) it is more likely that oil and natural gas prices will exhibit chaotic price swings."

As has already happened with natural gas. Now we're going to see it with oil and the gas we put in our cars. Get ready for the rolly coaster.

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