…Will This Move You To Cycling Action?
Monday, July 7th, 2008From The Wall Street Journal:
Oil’s historic ascent from $100 to nearly $150 a barrel in just six months is lending weight to a far grimmer prediction: Crude could reach $200 a barrel by the end of the year.
Oil at that price would wreak deeper havoc on the world’s airlines and automobile industries.
In the U.S., $200 crude would push the price of gasoline to well over $6 a gallon, causing commuters to alter their driving habits more sharply than they have already, while putting extreme strains on large sectors of the U.S. economy. In Europe…