Careful What You Wish For

As oil hits $75.00 a barrel, there's people out there who are cheering it on, hoping for the price to hit $100. They think this will make us become more energy efficient, but ...

How many airlines will go out of business because the rising price means people will no longer be able to afford to fly? The cruise ship industry might as well close up. How many people will go hungry because of the added transport costs to all foodstuffs? Transport costs will also hit every area of manufacturing as well. In fact, higher oil prices will affect every area of our lives.

Sure, it may force auto makers to start making more efficient vehicles, but the lag between the design and production of those and living with what we already have will end up driving people out of their homes and jobs. And while those on fixed pensions like me look to be the hardest hit initially, the repercussions are going to be felt by every American who doesn't have millions in the bank.

Come to think of it, those are the very folks who are yelling the loudest for the price to rise.