Actually, one thing that the media outlets are missing is the disastrous effect high oil prices are having on the third world and other less developed countries.
Sure $4 a gallon gas is annoying in the US. In Thailand is stops everything. In China, crops lie in the fields rotting as it is now too expensive to get them to market verus their resaleable value. In Bulgaria wait until winter comes around and people start freezing to death since heating oil will be too expensive.
Worried about pollution? The worst polluting states are all poor. If they can’t get oil and they don’t have coal, they will burn trees instead. Anytime someone makes their first trip into La Paz the one thing they remember afterwards is the smell of 10,000 camp fires from the road into La Paz from the airport.
$8 a gallon for gas would be really annoying here. Elsewhere it is fatal. Of course the enviro jerks don’t care about the people dying from this. They are enjoying their Malthusian moment.
