The price of crude is back up to $108 again this morning.
This is going to go especially hard on retirees living in places like Desert Hot Springs, CA or Dumfuk, AZ, stuck in trailer parks ten miles from the nearest groceries and 20 miles from the doctor and/or hospital.
But wait! Won't shale and tar sands gas save us from this? Jim Kunstler notes, "Those TV commercials you see around the news hours on the cable networks are designed to extract investment capital from elderly people who have been swindled in the bond markets and don't know where to stick their dwindling retirement funds. Shale oil and gas must seem like a good bet to them, especially the ones marooned in retirement housing clusters in dismal places like Arizona and Florida, where not being able to drive is a virtual death sentence."
So do yourself a favor this morning; go read Kunstler.
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