11.10.2007

Hold On to Your Hats Folks


The news that the dramatic rise in oil prices redistributes wealth may just shock you.

Or not.

Look for yourself, from WashingtonPost.com:

"With crude oil prices nearing $100 a barrel, there is no end in sight to the redistribution of more than 1 percent of the world's gross domestic product. Earlier oil shocks generated giant shifts in wealth and pools of petrodollars, but they eventually faded and economies adjusted. This new high point in petroleum prices has arrived over four years, and many believe it will represent a new plateau even if prices drop back somewhat in coming months."
read more

I'll need to read more before I can comment - but I thought I'd throw that big fact shocker out there first...

2 comments:

Renegade Eye said...

I returned the favor, and linked back to you.

Your post is important, in light of so many countries nationalize their oil industry,

Anok said...

Thank you Renegade Eye. I appreciate it - the link and the comment.

There is so much to be said about oil...sometimes I don't know where to begin.