Oil Prices

I don't really have anything earth-shaking to say, but I know that oil and gas prices have been large in peoples' minds and pocketbooks.

Oil prices are going down. Despite explosions and further uncertainties of supply. See This, and This. This is a good thing, but I hope it doesn'(though it probably will) take focus and impetus away the various domestic oil production/replacement possibilities. Just to make sure you don't misunderstand, I don't think such schemes are necessary for any nationalistic/environmental/global warming reason, but rather for reasons that there seems to be decent statistical information that links (relatively) cheap energy with greater rates of economic growth around the world. And I like economic growth because nothing else comes close to being as effective at lifting people from poverty and saving lives. Economic growth also gives people more slack in life to pursue political/personal/religious freedoms.

Why are oil prices falling? Probably due to a variety of factors - but all are related to supply and demand. Iraq is restarting exploration, Saudi Arabia is signaling that they may increase supply, the summer driving season is slacking off, world oil/gas consumers have (slightly) decreased consumption,

High oil prices were never the doomsday scenario that many people assumed they were, but I'm comfortable seeing them decrease.