Apologies for the relatively light posting this week. I’m still carving my way through Edward Griffin’s “The Creature from Jekyll Island,” and I’ve got some more things I want to write about it, but it will take me some time to get my thoughts in order.
In the meantime, I’ll hopefully post some smaller articles of note. If nothing else, relative peace in the Middle East combined with a lax start to hurricane season and resumption of some flow from Pruhoe Bay have resulted in gas falling to the ‘bargain’ price of $2.84 or so around here. I can’t help but thinking this is a bargain when I see it, even though I realize how the price has gone steadily up since early 2005. Everything we’re seeing indicates that we’re in the ‘plateau’ of peak oil production. Production may rise a bit, then fall as some fields decline or come online. The price of oil (and everything that depends on it) will move accordingly.
As a piece of advice, if you have a desire for any durable goods from overseas, I’d buy yourself a Christmas present or two this year. The next few years will be the end of the window for getting goods from overseas cheaply, I think, so do yourself a favor and get the good stuff now while it’s still reasonable.