The good news is that we're still at the lower end of the range for oil prices. The bad news is that OPEC, our close friends and allies, want to cut production again because they're just not making enough money and a cold winter is forecasted. With all of the brainpower that we have around the world, why do we tolerate such a disfunctional relationship that brings us so much trouble? Why is there no serious effort to promote alternative energies? Right now I would even settle for fuel conservation.
Here in my neighborhood of Paris, they are redesigning one of the main roads to make it miserable for car traffic in order to encourage people to stay out of their cars and use the very cheap and very efficient public transportation. Think of it as a Robert Moses road design in reverse.
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Oil tests $40, OPEC itching to cut production
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