Many credible and respected individuals and institutions are projecting a rise in oil prices to a level that many could not imagine or perceive until recently: $200 per barrel. At that price, regular unleaded gasoline figures to be priced from $6.25 to $7.50 per gallon depending on one where resides and the time of the year. Incredibly, some forecasts see this threshold being reached before the end of 2008. This blog does emphasize this economic peril and jolting sea change with regularity (and rightfully so) along with global warming, but to witness oil and fuel prices at that high level so soon would even somewhat surprise this writer. This week's Newsweek magazine has a rather indepth article about all this and what it means on a number of different levels from a number of different perspectives. It is well worth the read.-
http://www.newsweek.com/id/139395
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