"From a European point of view, it's rather depressing. We didn't cause the problem and are already doing everything we can to reduce oil demand, so can't really do much more to solve the problem either. We can only wait on the rest of the world to see sense, and do what we did 25 years ago, which is to take steps to reduce oil demand using the tax system. Our only consolation is that by acting early, we have made our economies less dependent on oil and therefore more resilient to the shock than other economies."Via L&C.
Saturday, July 12, 2008
Numbers crunched over at Snowflake.