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We're Freaking Doomed!

Saturday, November 03, 2007

In the latest installment by The Mogambo Guru, Richard Daughty explains how the price of oil will be going up, up, up because the supply of oil is going down, down, down. Some of you may better know this phenomenon as Peak Oil. Coupled with this supply side problem is that the demand for oil will also be going up. Of course, what we have here is the makings for one whopper of a doozy. But, I thought it would be prudent to hitch together his latest article, The Ticking of the Oil Clock, with his previous article, Painted Rock Predicts the Dollar Index, where he explains that the dollar's value is falling faster than Bush's Congress' the U.S. government's approval ratings.
What does this mean to you and me? Well, you know that gallon of gas you just paid $3.27 for? Imagine the price for that gallon of gas being put under ever increasing pressure because of supply-side problems, i.e. "there ain't no more oil in that hole we got it out of", coupled with a dollar that's worth less today than it was yesterday. $5 a gallon? $7 a gallon? What happens when it costs more to go to work than you make going to work?
Are we freaking doomed? You bet your bottoming dollar we are!


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