Great article examining the economics of high energy prices from the Daily KOS here.

A little excript:

...but at the same time, the dollars captured by the oil producers are re-invested in US Treasuries, thus lowering the interest rates and making it easier for Americans (and international investors) to borrow - thus leading to increased spending and increasing imports (thus worsening again the deficit), and inflated asset prices, and creating, strangely enough, a appearance of increased wealth...

On the topic of energy, I've finished my paper on peak oil now and think I'll start posting it in sections here sometime next week.

And I should note one more thing. Today I added a link to LATOC.net on the side bar. I've held off from doing so for quite sometime time now because the last thing I want to partake in is promoting an attitude of pessimism (despite the url of my blog). Time has always had a way of using unseeable variables to trump predictions made about the future and making claims of inevibilty usually does little but make you look like an ass. However, with that said, I think the site does an extraordinary job of illuminating the current problems facing society today. Bash it all you like, but until you can debunk any of the math involved I would suggest holding off. Like any question, the best way to address it is by understanding the variables involved. Take a look at the site if you haven't already. It's unpleasant but necessary.