The price of a barrel of oil hit $142 over the weekend.
Is the incline about speculation -- when will demand begin to fall -- Libya is threatening to cut production -- the US is threatening to take OPEC to court... Meanwhile I've been watching for months as funds to pay for oil spills crop up all over -- technology and laws are looking at damage. Damage, threat, disaster...
A Reuter's Article today in Business Day discusses the analysts view of the state of affairs.
“Oil needs to rise to $150 a barrel for oil as a share of global GDP to reach the levels that occurred in the early 1980s. At that point, we will start to see more signs of demand destruction and an eventual tipping point in oil markets.”
It's all so gradual and ingrained. We look around and see that there is toxicity everywhere we look. That the price is too high. They said that at $100 -- they will say that at $200.
I can't afford to be where I am or where I am going. There has been damage. There has been an unsustainable change.