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	<title>It Doesn't Matter</title>
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	<description>Radically optimistic political œconomy</description>
	<lastBuildDate>Mon, 28 Jul 2008 18:50:11 +0000</lastBuildDate>
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		<title>It Doesn't Matter</title>
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		<title>Stop Online Stupidity Now!</title>
		<link>http://jerandray.wordpress.com/2008/07/28/stop-online-stupidity-now/</link>
		<comments>http://jerandray.wordpress.com/2008/07/28/stop-online-stupidity-now/#comments</comments>
		<pubDate>Mon, 28 Jul 2008 18:50:11 +0000</pubDate>
		<dc:creator>Jeremy Sapienza</dc:creator>
				<category><![CDATA[Oil]]></category>
		<category><![CDATA[Populism]]></category>
		<category><![CDATA[Regulation]]></category>

		<guid isPermaLink="false">http://jerandray.wordpress.com/?p=29</guid>
		<description><![CDATA[If only the government would do something about high oil prices that are threatening the fat-American dream! Don&#8217;t you know that we&#8217;re paying a full half of what Europeans pay for gasoline to power our huge cars that we take on aimless trips to expensive amusement parks! How will we afford this now, especially since [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=jerandray.wordpress.com&amp;blog=3663447&amp;post=29&amp;subd=jerandray&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p>If only the government would do something about high oil prices that are threatening the fat-American dream! Don&#8217;t you know that we&#8217;re paying a <em>full half</em> of what Europeans pay for gasoline to power our huge cars that we take on aimless trips to expensive amusement parks! How will we afford this now, especially since it&#8217;s hard to charge it, like we used to!?</p>
<p>That&#8217;s the kind of base populist rhetoric we&#8217;re treated to on the <a href="http://www.stopoilspeculationnow.com/">Stop Oil Speculation Now</a> website, which is basically a thinly veiled airline-financed campaign to make oil cheaper. The problem is that while the &#8220;solution&#8221; will almost certainly have an effect on the market for oil if implemented, it will also almost certainly not be for the good of most consumers. All I see when I read <a href="http://www.stopoilspeculationnow.com/site/page/the_solution">this list of &#8220;fixes&#8221;</a> is &#8220;DANGER! UNINTENDED CONSEQUENCES AHEAD!&#8221;</p>
<p>The argument against speculation seems to be this: while futures trading does not itself take oil off the market, it encourages those in control of oil to do so (by buying and hoarding or by waiting to pump more oil). In other words, those who are actually doing the allegedy bad thing are not the focus &#8212; it&#8217;s those encouraging the bad thing. This is like banning miniskirts in public because it is making some homeless men masturbate on rich people&#8217;s shoes.</p>
<p>Of course, there is nothing practically wrong with taking oil off the market to make money in the future. If this is a bubble created by speculation, then we will soon be in an era of cheap oil &#8212; the bottom will have fallen out of the market and there will be a surplus. If the bubble lasts long enough, like the high prices of the 1970s did, it will fuel another bout of energy efficiency in our machines and lifestyles in general &#8212; much as the crisis of the 1970s did &#8212; and we will be even better off for it. Oil will be cheap, plentiful, and we won&#8217;t need nearly as much of it to do the same things as before the &#8220;crisis.&#8221; It&#8217;s hard to see the problem here.</p>
<p>There&#8217;s something else a little unsettling about this movement, as it were: &#8220;Every time you buy products such as food or gas, you are impacted by unregulated, secretive and <em><strong>often foreign</strong></em> commodities futures markets.&#8221; Oh no, not <em>foreign</em>! There&#8217;s a touch of xenophobia reminiscent of Ford&#8217;s warnings about the <a href="http://en.wikipedia.org/wiki/The_International_Jew">International Jew</a>. I get the same from <a href="http://www.pickensplan.com/theplan/">T. Boone Pickens&#8217; recent fevered blatherings</a> about the &#8220;greatest transfer of wealth in the history of mankind&#8221; that buying oil from Ayrabs represents. Apparently T-Dog isn&#8217;t aware we get OIL in exchange for our ever-more-worthless greenbacks.</p>
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		<media:content url="" medium="image">
			<media:title type="html">Alex</media:title>
		</media:content>
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		<title>Building Bantustans and Calling It Freedom</title>
		<link>http://jerandray.wordpress.com/2008/07/21/building-bantustans-and-calling-it-freedom/</link>
		<comments>http://jerandray.wordpress.com/2008/07/21/building-bantustans-and-calling-it-freedom/#comments</comments>
		<pubDate>Mon, 21 Jul 2008 19:38:34 +0000</pubDate>
		<dc:creator>Jeremy Sapienza</dc:creator>
				<category><![CDATA[Israel]]></category>
		<category><![CDATA[Racism]]></category>

		<guid isPermaLink="false">http://jerandray.wordpress.com/?p=25</guid>
		<description><![CDATA[In Israel, the state owns most of the land, and then leases and sells parcels off to private users. Only Jews are ever sold land. Now, Israel is in the planning stages of building the first new city for its Arab citizens. &#8220;There is a need to broaden the range of opportunities available to the [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=jerandray.wordpress.com&amp;blog=3663447&amp;post=25&amp;subd=jerandray&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p>In Israel, the state owns most of the land, and then leases and sells parcels off to private users. Only Jews are ever sold land. Now, Israel is in the planning stages of building <a href="http://www.news.com.au/heraldsun/story/0,21985,24056064-5005961,00.html">the first new city for its Arab citizens</a>.</p>
<p><em>&#8220;There is a need to broaden the range of opportunities available to the non-Jewish population,&#8221; Sheetrit was quoted as saying.</em></p>
<p><em>&#8220;My aspiration is for a new Arab city in the Galilee, where young couples can buy a house, just like in any other city in the world.&#8221;</em></p>
<p>Just like any other city in the world? Sorry but no: only in &#8220;democratic&#8221; Israel are cities built by the state and legally restricted to those of a certain ethnicity/religion. It doesn&#8217;t seem to me that Israeli Arabs will be content with their relegation to bantustans.</p>
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		<media:content url="" medium="image">
			<media:title type="html">Alex</media:title>
		</media:content>
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		<item>
		<title>Speaking of Looking for Answers&#8230;</title>
		<link>http://jerandray.wordpress.com/2008/07/21/speaking-of-looking-for-answers/</link>
		<comments>http://jerandray.wordpress.com/2008/07/21/speaking-of-looking-for-answers/#comments</comments>
		<pubDate>Mon, 21 Jul 2008 17:47:18 +0000</pubDate>
		<dc:creator>Jeremy Sapienza</dc:creator>
				<category><![CDATA[Iraq]]></category>
		<category><![CDATA[War]]></category>

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		<description><![CDATA[My first reaction to this headline: &#8220;Mom Looking for Answers in Iraq Rollover Death&#8221; is &#8220;Your kid invaded a country, yadda yadda yadda, now he&#8217;s dead.&#8221; Are Americans so under the influence of the exceptionalism delusion that they think anyone cares how exactly a soldier died when his vehicle rolled over in a country he [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=jerandray.wordpress.com&amp;blog=3663447&amp;post=22&amp;subd=jerandray&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p>My first reaction to this headline: &#8220;<a href="http://www.armytimes.com/news/2008/07/ap_ford_answers_072008/" target="_blank">Mom Looking for Answers in Iraq Rollover Death</a>&#8221; is &#8220;Your kid invaded a country, yadda yadda yadda, now he&#8217;s dead.&#8221; Are Americans so under the influence of the exceptionalism delusion that they think anyone cares <em>how exactly</em> a soldier died when his vehicle rolled over in a country <em>he was occupying</em>?</p>
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		<media:content url="" medium="image">
			<media:title type="html">Alex</media:title>
		</media:content>
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		<title>Smile: It&#8217;s All Still Good</title>
		<link>http://jerandray.wordpress.com/2008/07/15/smile-its-all-still-good/</link>
		<comments>http://jerandray.wordpress.com/2008/07/15/smile-its-all-still-good/#comments</comments>
		<pubDate>Tue, 15 Jul 2008 12:54:50 +0000</pubDate>
		<dc:creator>Jeremy Sapienza</dc:creator>
				<category><![CDATA[Prosperity]]></category>
		<category><![CDATA[The Economist]]></category>

		<guid isPermaLink="false">http://jerandray.wordpress.com/?p=21</guid>
		<description><![CDATA[From the July 3, 2008 Economist article, &#8220;Who Runs the World?&#8220;: &#8220;Despite the latest stockmarket dips and credit squeezes, world income per head has increased by more over the past five years than during any other similar period on record.&#8221; While certain people are having their irrational gains reversed in the current correction, the world [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=jerandray.wordpress.com&amp;blog=3663447&amp;post=21&amp;subd=jerandray&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p>From the July 3, 2008 <em>Economist</em> article, &#8220;<a href="http://www.economist.com/displaystory.cfm?story_id=11664289&amp;fsrc=RSS">Who Runs the World?</a>&#8220;:</p>
<p>&#8220;Despite the latest stockmarket dips and credit squeezes, world income per head has increased by more over the past five years than during any other similar period on record.&#8221;</p>
<p>While certain people are having their irrational gains reversed in the current correction, the world as a whole is still far richer than ever, and there is no sign the trend will not continue through booms and busts, as it always has. So relax.</p>
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		<media:content url="" medium="image">
			<media:title type="html">Alex</media:title>
		</media:content>
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		<item>
		<title>Praise for the Heroes of Malabo</title>
		<link>http://jerandray.wordpress.com/2008/07/10/praise-for-the-heroes-of-malabo/</link>
		<comments>http://jerandray.wordpress.com/2008/07/10/praise-for-the-heroes-of-malabo/#comments</comments>
		<pubDate>Thu, 10 Jul 2008 15:22:40 +0000</pubDate>
		<dc:creator>Jeremy Sapienza</dc:creator>
				<category><![CDATA[Equatorial Guinea]]></category>
		<category><![CDATA[Mercenaries]]></category>
		<category><![CDATA[Zimbabwe]]></category>

		<guid isPermaLink="false">http://jerandray.wordpress.com/?p=20</guid>
		<description><![CDATA[Today I stumbled upon the British opinion site The First Post, and I am so impressed by its&#8230; I find myself moved to say &#8220;honesty.&#8221; I always love me a Cockburn piece from any of the brothers, and I appreciated the one on here from Alex, but what really has me going today is a [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=jerandray.wordpress.com&amp;blog=3663447&amp;post=20&amp;subd=jerandray&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p>Today I stumbled upon the British opinion site <em>The First Post</em>, and I am so impressed by its&#8230; I find myself moved to say &#8220;honesty.&#8221; I always love me a Cockburn piece from any of the brothers, and I appreciated <a href="http://www.thefirstpost.co.uk/44769,opinion,an-americans-home-is-his-arsenal">the one on here from Alex</a>, but what really has me going today is a piece by Andrew Roberts entitled, &#8220;<a href="http://www.thefirstpost.co.uk/44820,opinion,privatise-the-business-of-deposing-dictators">Privatise the business of deposing dictators</a>.&#8221; This is a topic dear to my heart &#8212; indeed, I defended the plotters of the coup against the monstrous Equatoguinean dictator Teodoro Obiang (the dude eats his opponents organs!) <a href="http://www.antiwar.com/blog/2005/02/18/long-live-sir-thatcher/">way back in February 2005</a>, taking pains to explain the difference between this delicate operation and the US crushing of Iraq. I oppose the initiation or financing of any of this by states or with a dime of public money whatsoever, but as the author says, such coups should be lauded by all of us.</p>
<p>So when&#8217;s the <a href="http://en.wikipedia.org/wiki/Tesco">Tesco</a> takeover of Zimbabwe?</p>
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		<media:content url="" medium="image">
			<media:title type="html">Alex</media:title>
		</media:content>
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		<title>Across the Straits, Capitalist Tsunami Puts Out Fires of War</title>
		<link>http://jerandray.wordpress.com/2008/07/09/across-the-straits-capitalist-tsunami-puts-out-fires-of-war/</link>
		<comments>http://jerandray.wordpress.com/2008/07/09/across-the-straits-capitalist-tsunami-puts-out-fires-of-war/#comments</comments>
		<pubDate>Wed, 09 Jul 2008 18:40:07 +0000</pubDate>
		<dc:creator>Jeremy Sapienza</dc:creator>
				<category><![CDATA[China]]></category>
		<category><![CDATA[Military-Industrial Complex]]></category>
		<category><![CDATA[Taiwan]]></category>
		<category><![CDATA[Trade]]></category>
		<category><![CDATA[War]]></category>

		<guid isPermaLink="false">http://jerandray.wordpress.com/?p=19</guid>
		<description><![CDATA[&#8220;Progressive&#8221; columnist Robert Scheer has been forced to admit that Taiwan and mainland China have decided it&#8217;s best to send each other tourists and consumables instead of soldiers and combustibles. The now-explosive orgy of economic globalization might really put the pinch on the US&#8217;s Military-Industrial Complex.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=jerandray.wordpress.com&amp;blog=3663447&amp;post=19&amp;subd=jerandray&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p>&#8220;Progressive&#8221; columnist <a href="http://www.truthdig.com/report/item/20080708_taiwan_declares_peace_on_china/">Robert Scheer has been forced to admit</a> that Taiwan and mainland China have decided it&#8217;s best to send each other tourists and consumables instead of soldiers and combustibles. The now-explosive orgy of economic globalization might really put the pinch on the US&#8217;s Military-Industrial Complex.</p>
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		<media:content url="" medium="image">
			<media:title type="html">Alex</media:title>
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		<title>Another Outrageous McCain Slip: Can This Guy Be Trusted?</title>
		<link>http://jerandray.wordpress.com/2008/07/09/can-mccain-be-trusted/</link>
		<comments>http://jerandray.wordpress.com/2008/07/09/can-mccain-be-trusted/#comments</comments>
		<pubDate>Wed, 09 Jul 2008 18:26:11 +0000</pubDate>
		<dc:creator>Jeremy Sapienza</dc:creator>
				<category><![CDATA[Iran]]></category>
		<category><![CDATA[Israel]]></category>
		<category><![CDATA[John McCain]]></category>
		<category><![CDATA[Trade]]></category>
		<category><![CDATA[War]]></category>

		<guid isPermaLink="false">http://jerandray.wordpress.com/?p=18</guid>
		<description><![CDATA[How is John McCain not the focus of very public media investigations into his repulsive anti-Persianism? Oh, right, because Iranians aren&#8217;t people the way Americans and Jews are. So it&#8217;s just fine for him to sing &#8220;Bomb, Bomb, Bomb, Bomb, Bomb Iran&#8221; to the tune of the Beach Boys&#8217; &#8220;Barbara Ann.&#8221; And it&#8217;s no big [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=jerandray.wordpress.com&amp;blog=3663447&amp;post=18&amp;subd=jerandray&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p>How is John McCain not the focus of very public media investigations into his repulsive anti-Persianism? Oh, right, because Iranians aren&#8217;t people the way Americans and Jews are. So it&#8217;s just fine for him to sing &#8220;<a href="http://www.youtube.com/watch?v=o-zoPgv_nYg">Bomb, Bomb, Bomb, Bomb, Bomb Iran</a>&#8221; to the tune of the Beach Boys&#8217; &#8220;Barbara Ann.&#8221; And it&#8217;s no big deal when, in light of the news that <a href="http://www.cbc.ca/money/story/2008/07/08/iran-bullsemen.html">US trade with Iran has increased 1000%</a> under the Bush Administration, McCain says of American cigarette exports &#8220;<a href="http://wiredispatch.com/news/?id=244626">well that&#8217;s one way of killin&#8217; em!</a>&#8220;</p>
<p>Why is this man filled with such bilious hatred for the Iranian people? Iran has attacked exactly zero American interests outside its borders. The US, on the other hand, <a href="http://en.wikipedia.org/wiki/1953_Iranian_coup_d%27%C3%A9tat">overthrew a democratically elected Iranian government</a>. Is it because Iranian President Mahmoud Ahmadinejad doesn&#8217;t send Valentine&#8217;s chocolates to <a href="http://www.salon.com/opinion/greenwald/2008/07/02/israel_iran/">every American&#8217;s favorite dual loyalty</a>, the State of Israel? Honest and informed people already know he <a href="http://www.antiwar.com/orig/norouzi.php?articleid=11025">hasn&#8217;t called for the Jewish state to be wiped off the map</a>. The <a href="http://en.wikipedia.org/wiki/President_of_Iran">President of Iran doesn&#8217;t even control the country&#8217;s armed forces</a>. So what&#8217;s the deal?</p>
<p>In light of his hysterical hatreds, his <a href="http://blog.case.edu/conservativemovement/2008/01/29/john_mccains_top_ten_temper_explosions">temper tantrums</a>, <a href="http://www.rawstory.com/news/2008/McCain_temper_boiled_over_in_92_0407.html">his misogyny</a>, and his <a href="http://www.salon.com/opinion/conason/2008/07/04/mcain_vietnam/">refusal to learn from the utterly disastrous mistakes of the past</a>, McCain is clearly not a man who can be trusted to have his hand on the red button.</p>
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		<media:content url="" medium="image">
			<media:title type="html">Alex</media:title>
		</media:content>
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		<title>Just Who Is the Terrorist, You Invading Attacker?</title>
		<link>http://jerandray.wordpress.com/2008/07/08/just-who-is-the-terrorist/</link>
		<comments>http://jerandray.wordpress.com/2008/07/08/just-who-is-the-terrorist/#comments</comments>
		<pubDate>Tue, 08 Jul 2008 21:20:03 +0000</pubDate>
		<dc:creator>Jeremy Sapienza</dc:creator>
				<category><![CDATA[Colombia]]></category>
		<category><![CDATA[Terrorism]]></category>
		<category><![CDATA[War on Drugs]]></category>

		<guid isPermaLink="false">http://jerandray.wordpress.com/?p=16</guid>
		<description><![CDATA[Marc Gonsalves, one of the hostages recently freed from the Colombian communist rebel group FARC&#8217;s captivity by a breathtakingly awesome and tricky mission, is now free to flap his gums about his former jailers. &#8220;They are not a revolutionary group. They are terrorists &#8212; terrorists with a capital T,&#8221; said Gonsalves, a Florida resident and [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=jerandray.wordpress.com&amp;blog=3663447&amp;post=16&amp;subd=jerandray&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p>Marc Gonsalves, one of the hostages recently freed from the Colombian communist rebel group FARC&#8217;s captivity by a <a href="http://www.openmarket.org/2008/07/03/finally-a-good-use-for-a-che-t-shirt/">breathtakingly awesome and tricky mission</a>, is now <a href="http://www.cnn.com/2008/US/07/07/farc.hostages/index.html?iref=mpstoryview">free to flap his gums</a> about his former jailers.</p>
<p><em>&#8220;They are not a revolutionary group. They are terrorists &#8212; terrorists with a capital T,&#8221; said Gonsalves, a Florida resident and Connecticut native.</em></p>
<p>Okay, tell me, Mr. Gonsalves &#8212; what do you call a mercenary hired by a foreign government flying over a country looking for private property to destroy because the sponsor disagrees with the morality and values of the owner? In a vacuum, you&#8217;d call him a terrorist. Replace the foreign government with &#8220;United States&#8221; and country with &#8220;Colombia&#8221; and mercenary with &#8220;Marc Gonsalves&#8221; and you have, what &#8212; a hero? No, <a href="http://www.newsweek.com/id/109286/output/print">the mercenary group, working for Northrop Grumman on the payroll of the US government</a>, was terrorizing coca farmers trying to eke a meager living off their land by growing the raw material for the recreational drugs many of us rich Americans enjoy. That makes Marc Gonsalves, Thomas Howes, and Keith Stansell three freed, unrepentant terrorists. And their executed pilot co-worker, Tom Janis, an executed terrorist.</p>
<p>Replacing the &#8220;blanks&#8221; above with any other organizations or countries, to an American, would provoke shrieks of outrage. But American exceptionalism makes it so that no matter what Americans do, it is by definition virtuous. That&#8217;s sort of, um, insane.</p>
<p>FARC is a terrorist group. But so is the US government in its violent drive to rid the world of substances some find morally impermissible.</p>
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		<media:content url="" medium="image">
			<media:title type="html">Alex</media:title>
		</media:content>
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		<title>Oil Prices Already Affecting How Americans Live</title>
		<link>http://jerandray.wordpress.com/2008/07/07/oil-prices-already-affecting-how-americans-live/</link>
		<comments>http://jerandray.wordpress.com/2008/07/07/oil-prices-already-affecting-how-americans-live/#comments</comments>
		<pubDate>Mon, 07 Jul 2008 23:59:12 +0000</pubDate>
		<dc:creator>Jeremy Sapienza</dc:creator>
				<category><![CDATA[Cities]]></category>
		<category><![CDATA[Media]]></category>
		<category><![CDATA[Oil]]></category>
		<category><![CDATA[Regulation]]></category>
		<category><![CDATA[Urban Issues]]></category>

		<guid isPermaLink="false">http://jerandray.wordpress.com/?p=12</guid>
		<description><![CDATA[The Wall Street Journal today features the plight of Sacramento-area Californians in their traffic-choked, smog-smothered hunk of sprawl, and notes that they are moving to the denser, more work-convenient downtowns around the region in the wake of ever-higher gas prices. Developers, with the support of local environmentalists (seriously!), are building more densely to meet this [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=jerandray.wordpress.com&amp;blog=3663447&amp;post=12&amp;subd=jerandray&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p>The <em>Wall Street Journal</em> today features the <a href="http://online.wsj.com/article/SB121538754733231043.html?mod=googlenews_wsj">plight of Sacramento-area Californians</a> in their traffic-choked, smog-smothered hunk of sprawl, and notes that they are moving to the denser, more work-convenient downtowns around the region in the <a href="http://jerandray.wordpress.com/2008/05/20/why-high-oil-prices-are-wonderful/">wake of ever-higher gas prices</a>. Developers, with the support of local environmentalists (seriously!), are building more densely to meet this demand, without the <a href="http://www.ncpa.org/ba/ba305/ba305.html">screwy rules and regs of Portland</a>.</p>
<p>This is likely a scenario that will repeat itself across America &#8212; as the price of gas, not to mention the population, rises, they will seek the quickest, easiest mode of relief: urban living.</p>
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		<media:content url="" medium="image">
			<media:title type="html">Alex</media:title>
		</media:content>
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		<title>Being Almost Right on Oil Prices Is Awesome</title>
		<link>http://jerandray.wordpress.com/2008/07/04/being-almost-right-on-oil-prices/</link>
		<comments>http://jerandray.wordpress.com/2008/07/04/being-almost-right-on-oil-prices/#comments</comments>
		<pubDate>Fri, 04 Jul 2008 18:28:01 +0000</pubDate>
		<dc:creator>Jeremy Sapienza</dc:creator>
				<category><![CDATA[China]]></category>
		<category><![CDATA[India]]></category>
		<category><![CDATA[Oil]]></category>
		<category><![CDATA[Prediction]]></category>

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		<description><![CDATA[While the dingbats that populate the CNBC studios scoffed that oil prices were a bubble &#8212; formed by what overabundance of credit, I don&#8217;t know &#8212; and saying that it would pop by July 4 and crash &#8220;down&#8221; to $80, and other experts cautioned oil might hit $150 in the next two years, I was [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=jerandray.wordpress.com&amp;blog=3663447&amp;post=11&amp;subd=jerandray&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p>While the dingbats that populate the CNBC studios scoffed that oil prices were a bubble &#8212; formed by what overabundance of credit, I don&#8217;t know &#8212; and saying that it would pop by July 4 and crash &#8220;down&#8221; to $80, and other experts cautioned oil might hit $150 in the next two years, I was predicting $150 by July 4. Yes, 2008. I am happy to report that I was almost right &#8212; oil tapped $146 before settling at $144 yesterday. I see no reason at all for the price to go any lower in the near term. Until refinery capacity and oil production is ramped up, oil will continue to climb to meet the demand from emerging markets like India and China.</p>
<p>And the world will get <a href="http://jerandray.wordpress.com/2008/05/20/why-high-oil-prices-are-wonderful/">cleaner and richer</a> in the meantime. Bring it on.</p>
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