Seven dollars for a gallon of gas? You know, it sounds crazy and overly pessimistic, but all the while it makes perfect sense. I think a $5.00 gallon of gas is inevitable in this country...what's another couple clams on top of that?
It's at this point that I point out that I've been without a car for the past 10 years. It royally sucks in a metropolitan area that has such a poor mass-transit system - although the arrival of the first light-rail line goes a long way. But the end of cheap oil isn't a sudden crisis. We've seen it coming for ages. We've had time to prepare and plan ahead. Now the chickens are coming home to roost, and we're thoroughly screwed.
If oil continues to climb past $150 in the next few months, then it's anybody's game. Anything could happen. And the consequences would be disastrous for our economy.
Which leaves me wondering....what's going to happen to the airlines? Will we still have airplanes to fly around in? I wanted to take a vacation overseas. I better hurry up before everyone goes bankrupt.
Gee....it's a good thing we invaded Iraq, right? That sure turned out fine.