24 May 2008

Still remarkably cheap

Americans are feeling the pain of a petrol price that is still lower than it was in Britain when I moved here 15 years ago and is about half the price we pay today. The NYT article quotes one Debbie Gloyd of Cleveland as saying "I can’t afford these gas prices...They’re insane." What is insane, and has been for years, is building an economy and a profligate lifestyle based on the assumption that energy would be cheap forever. This may be the only thing that will finally force the American people to take a good hard look at themselves and change their behaviour. I hope it does (and I hope it isn't too painful).

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