Which means that (i) there's a reasons people are beginning to notice these prices now, but (ii) we're still far away from "painful" prices. We've just moved from invisible to noticeable. painful will require a bit more. In the long run, we're all dead. John Maynard Keynes
Still, that does not mean that even now we have a price that reaches the cost -there are so many externalities that the price is still too low. But it's been noticeable for a while now. What people seem to be slowly realising is that it's likely to stay noticeable.
I am impressed when I read that if we stop speculation, oil could come back to 100$ a barrel. When the approach of 100$ had been repeatedly explained away as a trader thing (with the first one to trade at 100$ claimed as probably staying the only one for many, many years -not because future ones would trade higher either). I guess it's the same thing as military issues. The more you were wrong in the past, the more you are listened to, probably based on the assumption that everyone must be right the same percentage of the time in the long run and therefore you'd be more likely to be right if you've been wrong before. Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi
However, given the stagnation of the lowest quartiles' wages for several years now, many people in the US are living on a very tight budget and even a small increase in an important feature of their budget (like heating oil for people living in the northern parts of the country) is certainly very painful.
That's the reason why I agree with the idea of increasing taxes on oil products and, at the same time, subsidise people earning less than the median wage, to help them to change their lifestyle (investments in conservation measures, change in the transportation means...) and to support them through the period while the necessary public investments should be made (development of public transportation networks...). "Dieu se rit des hommes qui se plaignent des conséquences alors qu'ils en chérissent les causes" Jacques-Bénigne Bossuet
Shall we make a basket of goods and see if we can get something of a consensus? Too bad there isn't a LATomatoes.com like there is http://www.losangelesgasprices.com/ -
Things I always buy (in euros) Bread - 1.20 Tomatoes, vine ripened - 1.50 /kilo Leeks - 2.10 /kilo Eggplant - 1.65 /kilo Various sheep and goat cheeses - 10 /kilo Various Fruits ~ 2.50-3.00 /kilo
Things bought regularly, but not weekly Gazole - 1.35 /liter Coffee at cafe - 1.10 /injection Coffee American at cafe - 1.50 per cup (includes free internet) Olive Oil (going down in price) - 4.50 per liter 5 cheap cigars - 3.20
2 liters of 40 weight - 20.00 Never underestimate their intelligence, always underestimate their knowledge.
Frank Delaney ~ Ireland
By the way, I will be in Sophia Antipolis on Wednesday for a conference. I am arriving on Tuesday around 20h00. Any chance we could have a drink together? "Dieu se rit des hommes qui se plaignent des conséquences alors qu'ils en chérissent les causes" Jacques-Bénigne Bossuet
noticeable
For the first time, I paid over £50 to fill the tank of my little diesel yesterday.
It's been close to £50 for a while. But it's still the round numbers that take your breath away.
