Forecast For the Year Ahead – James Kunstler

The bottom line for oil in 2007: expect the bidding on the futures markets to regain intensity between the US, China, Europe, and Japan. A contracting US economy could take some demand out of the picture, but the sad truth is that we burn up most of the oil we use in cars, and American life is now so hopelessly based on incessant motoring that citizens cannot even go down to the unemployment office without driving. Geopolitical events can only make the oil supply situation worse and probably will.

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