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The Other Side of Doom and Gloom

In June with oil pushing $150 a barrel forecasters predicted higher prices yet to come. Yet with oil now below $50 a barrel and dropping, Merrill Lynch forecasts $25 oil.

The media and the forecasters always seems to ride a trend to an extreme. One would be wise to ignore them. They rarely catch the changes that matter.

How will the new low oil prices effect policy for the new president? How will he push the alternative fuel agenda when the economic incentive has dissipated? How will this change their policy toward the evil oil companies?

The drop in the economy will reduce the carbon footprint of our nation. Is that to be cheered? It will reduce the causes of global warming. Will we celebrate?

We lamented the poor consumer who had to give up food and medicine to buy gas. Will we relax now that he has more money in his pocket? If high fuel prices once choked our economy shouldn’t the dropping prices be a stimulus?

Where is the other side of the doom and gloom stories from the news magazines now that the crisis in fuel prices has reversed?

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