I just saw Mr. Steve Forbes on CNBC predicting oil prices will fall back to the $35/barrel range within a year. His rationale: supply will pick up and demand will fall (for instance, he says China has overbought on the market and its consumption won’t keep growing at this rate).
Oil prices have been very volatile recently. And I cannot see into the future any better than Mr. Forbes. But I’d be “shocked” to see oil back at $35 again.
September 2005
Still Here
I’ve taken an unplanned blogging recess; a function of (1) having family visit; (2) being busy last week; (3) the emotional fallout of Katrina; and simply (4) not feeling like blogging.
Anyway, I have been following the news, and I think I still remember how to operate this site, so here I am.
Disaster Response
I’m not sure exactly what happened there, but how is it that China is able to “evacuate” 790,000 people for a typhoon (I assume most of them don’t have cars), and we can’t even get enough drinking water for the people trappped in New Orleans?