Oil Prices Continue Climbing


Business Week sums it up.  Unrest in the Middle East–and Libya in particular–helps prices continue to nudge higher, passing $102/barrel.  Do you think things will stabilize soon?  Like betting your family’s bank account against pushes for democracy in oil-rich countries?  That’s what we’re all doing if we don’t decrease our dependence on foreign energy sources.


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One Response to “Oil Prices Continue Climbing”

  1. Tom Harrison Jr Says:

    Mike —

    I have been a reluctant champion of higher oil prices in the past, as higher prices begin to reflect the true cost of our dependence on oil, not to mention our dependence on gas and coal. High oil prices get our attention.

    But now, I am concerned. High prices hurt. My sister doesn’t have a lot of spare change, and lives in Maine, heating with oil. High prices hurt. She’s got common sense, and doesn’t blame high prices on the “current administration” or “the economy”. But others tie high prices to some failure of our government. Many of us are feeling the pain of unemployment, and I get that. But high energy prices are not the fault of the government, unless it’s our failure to realize that it’s a huge risk we expose ourselves to. And today, with uncertainty, prices rise, as they have in the past.

    My concern: we’ll respond to high oil prices as some failure of government and decide it best to “throw ’em out” replacing with some alternate that is different, but (in my humble opinion) was the one that has prevented us from actually taking action to solve the root cause of the problem.

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