> Why oil shocks just aren't so shocking
>
> By Barrie McKenna
> Globe and Mail | March 17, 2005
>
> The economy of 2005 isn't the economy you grew up
with,
> when oil shocks
> would spark runaway inflation and plunge mighty
> countries into recession.
The Globe and Mail is participating in a grand
delusion. Supply and demand will indeed be finely
balanced with minimal inflationary effect right up to
the very end until we suck up those last few drops of
readily available oil, and fall off an economic cliff.
-Philip Lillies
in
Moncton, NB
Canada
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