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  Thursday  May 17  2007    11: 31 PM

oil

Rigged to Blow
by Jim Kunstler


It's hard to venture around this land and not feel like you are living in something like an obsolete Las Vegas hotel exquisitely rigged for implosion. The massive system that we've poured all our national wealth into, and elaborated to the last limits of refinement over half a century, is poised for failure. The prospect is so dreadful that no legitimate authority in politics, business, the news media, or even those cultural outlands of the arts and religion, can bring themselves to express a plausibly coherent view of what happens next to a living arrangement with no future and an economy of no purpose.

The system I refer to, of course, is the car-crazy infrastructure for everyday life, and all the activities supporting it, that most Americans now living regard as the natural and normal medium for human existence, as salt water is the natural and normal medium for squid. The public brings no critical reflection to being in it, and so its failure will eventually come as a deadly surprise -- as a red tide surprises the denizens of a tropical sea. When it occurs, the public will not be able to escape from their investments in this way of life. Some may feel swindled, but they will not lose their sense of having been entitled to a happier destiny, so the chances for the acting-out of massive political grievance are high.

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The Great Oil Robbery
Profiteering at the Pump


In case you're wondering why crude oil prices are down from last year, hanging around at about $60 a barrel, while gasoline prices have soared past $3.10/gallon nationwide, just check out the latest profit reports from the oil companies. They are at record levels.

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Higher gas prices leave many workers running on empty


Few have been unaffected by the rapidly increasing price of gas, which has inched its way up toward $4 a gallon in some parts of the United States. And consumers aren't feeling those effects just in their wallets, a Florida State University professor has found.

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  thanks to The Oil Drum