Friday, July 11, 2008


Oil hits new record.

It's weird. I get the sense that every time it goes down a few bucks there's this kind of "oh, ok, gas is going to get cheap again" sentiment around. The price is going to fluctuate, and it could even fall by a nontrivial amount, but it's difficult to see it falling below, say, $100/barrel ever again. And it wasn't that long ago that $100 was crazy talk, the other way.