[deMolay]

Amazing how MSM is catching on. http://www.newyorker.com/talk/financial ... surowiecki

[Plantagenet]

The New Yorker suggests that rising oil prices will create a public demand for higher oil taxes to reduce the demand for oil.

I think the opposite is likely.....rising oil taxes will create a public demand for LOWER taxes and more access to cheaper oil.

But there isn't any cheaper oil to be had.

[wisconsin_cur]

$this->bbcode_second_pass_quote('Plantagenet', 'T')he New Yorker suggests that rising oil prices will create a public demand for higher oil taxes to reduce the demand for oil.

I think the opposite is likely.....rising oil taxes will create a public demand for LOWER taxes and more access to cheaper oil.

But there isn't any cheaper oil to be had.

[EnergyUnlimited]

$this->bbcode_second_pass_quote('wisconsin_cur', '
')I agree with PA's assessment on what people will want and why they will not get it. What happens after that? That is the part of the equation that keeps me up at night.

[MD]

$this->bbcode_second_pass_quote('', 'T')his isn’t an idle concern, since recent history demonstrates how damaging skyrocketing oil prices can be. Indeed, blame for the current recession can be laid in part on the spike in the price of oil between June of 2007 and July of 2008, when it peaked at nearly a hundred and fifty dollars a barrel. A study by James Hamilton, a macroeconomist at U.C.-San Diego, reached a startling conclusion: given the already weak state of the U.S. economy in 2007, the sharp increase in oil prices might have been enough, on its own, to tip the economy into recession, even without that year’s blowup in the credit markets. It wasn’t just that, as many people assume, higher gas prices functioned as a tax increase, taking money out of people’s pockets. More important was the fact that four-dollar-a-gallon gasoline dramatically changed the way people spent their money.

[ivanillich]

$this->bbcode_second_pass_quote('Plantagenet', 'T')he New Yorker suggests that rising oil prices will create a public demand for higher oil taxes to reduce the demand for oil.

I think the opposite is likely.....rising oil taxes will create a public demand for LOWER taxes and more access to cheaper oil.

But there isn't any cheaper oil to be had.

[EnergyUnlimited]

$this->bbcode_second_pass_quote('ivanillich', ' ')Raising gas taxes is, of course, a solution that politicians—and voters—hate. But perhaps another oil shock or two will change that."