All Posts Tagged With: "American economy"
America Motoring to Disaster
America has been motoring towards disaster ever since its economy was structured around the automobile and cheap energy supplies. Now that energy is no longer cheap disaster is imminent. Like the airlines, the American business and lifestyle model is broken with oil above $125 a barrel and probably headed higher, perhaps much higher, as peak oil all too soon kicks in with a vengeance.
Gasoline prices at $4.00 a gallon have started to force Americans to cut back on their driving. Even middle class families are having a tough time making ends meet with rising gas prices, rising food prices, double digit increases in the cost of health care, stagnant incomes, and falling house prices occurring all at the same time. So some effort at energy conservation is finally underway.
28May2008 | taipan | 0 comments | Continued