Take all excuses, throw them against the wall. They all seem to stick :)
Primarily, we know oil is fungible (it's price reacts globally since it's so easy to ship), and reacts strongly to marginal changes in supply. A small shortage creates large price increases, and vice-versa.
My favorite excuse of the month in the U.S. currently is "It's the weak dollar!" That's nice, but it doesn't explain why European and other nations have seen their prices go up just as much.
Bottom line: Either let the corporations invest in new facilities and technologies to increase production and drive down costs, and properly regulate those corporations to they don't engage in monopolistic activities, or live with the consequences.
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Today's Featured Article - Gatherin of the Orange - by Rick Nikolich. In July of 1998 I was talking to fellow Allis Chalmers collector Mike Schilling about the annual "Gathering of The Orange" AC show coming up in August of 1999. He got this wild idea that we should get a convoy of AC tractors and drive them from Charlotte, Michigan 105 miles to LaGrange, Indiana.
... [Read Article]
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