The Day of Rage fizzled. We can breathe a collective sigh of relief in that $200 oil now seems extremely unlikely.
People who wanted this to happen, or who thought it was a good thing, well when the price of food doubles and you have to ration it, the price of heating oil doubles and you can't afford to heat your house in the winter, jobs are lost because everybody goes out of business and the unemployment rate rises even further, and the dominos keep falling... come back here and say that then, that Saudi Arabia needed a revolution in March of 2011.
There are lots of forum members on here in the UK where petrol prices are already way above levels that make Americans nervous. This isn't about a family not being able to go to the beach for a weekend in their SUV. America is really BIG. Food, medicine, everything, has to be transported very long distances to reach the rural population. A lot of the country is also very cold. People are already spending thousands more just to keep their house warm than they were a few years ago. Not only our way of life, but our stability as a society, is dependent on inexpensive energy prices, especially diesel. It's just the way it is.
Hopefully the much-needed reforms in Saudi Arabia will come sooner rather than later and at a gradual pace that does not disrupt the flow of black gold.
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