Boom Times

You want to know how bad fracking is? Apart from forcing poisonous chemicals into our drinking water, I mean. Producers of crude oil using the hydraulic fracturing technique are currently losing $10-$20 a barrel and they're still producing as much as possible. I guess each company hopes the competition will fold before they do.

Meanwhile, OPEC is larding the market with oil that costs MUCH less to produce, about $20 a barrel, hoping to drive the American companies into usuary before they go broke themselves.

The resultant low prices of gas are, as you might expect, driving the sale of larger, more fuel-inefficient cars because the ninnies who buy these behemoths know the price of gas will never EVER reach $4 again, right?

It will happen eventually, though, after a huge oil industry shake-out. Even worse than the losses of thousands of jobs entire companies will fail leaving no one liable for the clean-up of the toxic messes they'll inevitably leave behind.

Hey, but $2 a gallon gas, right?

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Technical Note: The Comment Box was broken over the weekend and most of Monday. It's working fine now so go thither and wax splenetic to your hearts content.

=Lefty=