Quote:
Originally Posted by xoxoxoBruce
Here's an excellent explanation about the price of gasoline.
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If oil went from $10 per barrel to $100 per barrel, why did gasoline not increase by a ten factor? Because most parties along the pipeline have not shared in the wealth.
Sir Richard Branson noted what has happened. A massive percentage of the world's wealth is currently being transferred to other nations. According to Branson, he has seen this happen three times including in the 1970s. But he has never seen so much wealth being transferred so quickly as is ongoing today.
Our extremists (in denial) said our economy is not as dependent on oil as it once was. That works when preaching to Rush Limbaugh disciples. Those who instead need facts: we will see. Price of oil has increased massively for only a few years. That means the economic response has not yet been observed in spread sheets. Or has it?