Monday, February 28, 2011

The Republic Will Survive $200/Barrel Oil

I'm someone who is more sanguine than most that high oil prices won't be economic Armageddon. Obviously now would be a particular bad time for oil prices to shoot up, as the economy already sucks, but longer run I don't see it as an economy killer. It will be a negative hit, and production and transportation patterns would change, but I don't think it will fundamentally alter existence.