Wednesday, October 22, 2008

Black Silver Lining

I love a good chart:

Oil is literally half the price it was just 3 months ago. This is great news for a couple of reasons.

First, of course, is that our gas is already costing us less. And we like that.

Second, and far more importantly, it shows a dramatic shift in pricing power out of the hands of oil producers (i.e. OPEC) and into the hands of oil consumers (i.e. you and me). We have shown (albeit unintentionally) that conservation measures that reduce demand for oil can have a huge impact on the market price. And pricing power is real power.

So, what do we do with that kind of power? Beats me, but the only man with a plan who I see out there beating the drum is T. Boone. So I'm with him.

Go Rotary!

But whatever we do we should do it soon. Circumstances will continue to change with time.