Thursday, December 04, 2008 | 11:26 a.m.

Oil Prices and Economic Reality

by Steve Chapman

Right now, energy consumers can only envy the Greek King Sisyphus. He was condemned by the gods to spend his life pushing a boulder up a hill, only to see it roll back down again. Motorists and other fuel users seem condemned to push uphill forever, with never a downward respite.

In the past year, world crude oil prices have risen like a bottle rocket. In the last year, they have doubled. Since February, they have gone from less than $90 a barrel to $135 a barrel — a level that w ...

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Thursday, December 04, 2008 | 11:26 a.m.
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