Today's Wall Street Journal speculates about the possibility of $200/bbl. oil by the end of the year, which translates to $6.00/gal. gasoline.
If that actually comes to pass, we will look back on the days of early summer when we were reeling from the shock of $4.00 gas and think "those were the good old days."
I've read other economists who say that $170/bbl. oil is not out of the realm of possibility for the Fall.
The question is, how much more of this can we take? Where's the breaking point? How high does it have to go before people start driving less?
And that leads to the obvious question: How high does it have to go before Valley people demand the public transportation systems they deserve?
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