Something to think about while we see the results of Dubya Gump's leadership in action.
James Howard Kunstler also sees a bad moon rising in the wake of Katrina.
"Meanwhile momentous things are swirling in the background. The price of gasoline may retreat sometime in two to six weeks, but I doubt it will fall below the $2.50 range again. In fact, having gone way above the psychological barrier of $3.00, the gasoline retailers may resist falling below that. There have been no new oil refineries built in the US since the late 1970s. There will be no new ones built now, despite the crunch on refined 'product.' Why? Because the oil companies understand that they are in a twilight industry and refineries represent huge investments in future activity, which the corporations correctly perceive will be shrinking as global oil production passes peak.
"The biggest shock to the public lies a couple of months ahead when the cost of natural gas for home heating (50 percent of the dwellings in America) combines with stubbornly higher pump prices to whap them upside the head. Natural gas at around $12.00 is now many times what it cost as recently as 2003 ($3.00). A lot of Americans will be shivering this winter and some of the weak, old, and poor will die as a result....
"Strapped for cash from filling their gas tanks, unable to buy Christmas presents at WalMart, and huddled around space heaters, the public will be wondering why they were so poorly prepared."
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