Because my skills are not in journalism.
Editing is my downfall.
Dark Syde and Jerome a Paris (and thanx Jerome for turning me onto the following site) are what I aspire to in Diary entries.
But I have scanned all weekend and seen no diary in Daily Kos on the record price of crude.
So:
Bullshit, adjusted for inflation
What matters is the sustained price, not the spike. Over the course of this year we are averaging over $51 per barrel. That is 77% of the highest it has ever been. And it is climbing. If it gets into the 60's and is sustained there the damage done to the economy will be every bit as extensive as the damage that was done to the economy in 1981-1983.
more...
Yet in our magical world, rising energy prices don't affect us. Don't worry, be happy. Keep driving. Go ahead and close on that house even though it's 68 miles away from your job.
...And that really is the essence of the reporting that we are getting about this slow motion disaster. We are headed for a cliff and no one wants to spook the herd.
From:
The Great Phase Transition: The Post-Oil Era
by Jorge Figueiredo
In moments of transition, the underlying laws we are accustomed to stop functioning and peculiar patterns emerge within our environment.
During the passage of water in liquid state to gas, the laws at work are no longer the laws of physics of the liquid state or those of its gaseous state. They become other laws, not so well-known. And, from an anthropomorphic perspective, we tend to envisage as "chaos" phenomena, which do not abide by the laws we are familiar with and where prediction (even statistical) becomes compromised.
Friday, June 17, 2005: NYMEX West Texas Intermediate for [July delivery closed up $1.89 at $58.47 per barrel.
Thank you all for your patience.
Cheers. And stay positive!