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In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Thu Jan 1st, 2009 at 01:11:51 PM EST
I fully expect it to come roaring back the moment recovery begins.  Which is why we really should raise gas taxes as a means to setting expectations of higher prices.  It'd pull in a good bit of needed revenue as time went on, and it would mean shocks were less shocking.

Yet another point on which I think Yurp nailed it.

Not holding my breath about that happening stateside, of course.

Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin

by Drew J Jones (myfriends@thisispancakes.com) on Thu Jan 1st, 2009 at 01:20:30 PM EST
[ Parent ]
I expect it to come roaring back even if recovery never happens (which looks likely to me).
by tjbuff (timhess@adelphia.net) on Fri Jan 2nd, 2009 at 10:12:27 AM EST
[ Parent ]
If in the ensuing turmoil the Straits of Hormuz close, certainly.

Otherwise it will come creeping back as low cost oil depletes and the price has to rise to the point that justifies bringing more expensive oil online.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Fri Jan 2nd, 2009 at 12:07:31 PM EST
[ Parent ]

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