This morning, in Nigeria, rebels from the Niger River Delta exploded a car bomb near a military barracks, killing two soldiers. While that might not sound like a lot of casualties, it's because the bomb was exploded as a message to the Nigerian government that if they didn't "do something" for the people living in the Niger River Delta in regards to the oil companies, they'd start bombing for real.
This is worrisome not only because it means that these guys are taking notes from the larger playbook of terrorists and will probably kill a lot of people to try and gain their vague political goals, but also because the oil company's willingness to further explore the Delta for crude oil sources will evaporate, leaving the world with less reserves. All of this means not only higher gas prices at the pump, but higher prices all the way up the price chain.
One consequence of climbing gas prices I haven't heard discussed yet is the possibility that it will begin to be cheaper to make stuff at home again than it is to make it overseas, ship across an entire ocean, and then drive to the stores. Has anyone else heard mention of this yet? Anyone have any figures because right now I'm talking out of my butt.
We agree - oil prices are going to do nothing but steadily rise in the next few years. There is just too much world demand - it will take something drastic to have people and businesses change their consumption patterns. Everyday driving is getting more and more costly unfortunately.
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Have a good one