Thursday, January 10, 2008

You Thought the Price of Oil Was High Before

$2,500 car brings transport to India's masses - More access to cars = more demand for oil = higher prices.

The interesting thing is the response of the UN scientist Rajendra Pachauri, who shared last year's Nobel Peace Prize.
[He] said last month that he was "having nightmares" about the prospect of the low-cost car, reported The Associated Press.
When Henry Ford put a nation on wheels, it was considered a good thing. He created jobs for people who needed jobs, he contributed to the expansion of the middle class. He helped improve the standard of living of people who no longer had to huddle in slums close to factories. Today, all of those things are bad. An expanding middle class - we are told - will hurt the environment. Better all of those people should continue to live in abject poverty than strive for a better life.

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