OIL AT $150 THIS SUMMER?

Santelli's argument is not without merit. The last time oil got to this level the economy nearly collapsed. The difference between now and then is that we went into high fuel cost two years ago with a strong economy just beginning to enter a depression. If fuel costs skyrocket again we will be faced with costs going through the roof in the middle of a depression. Personal credit is exhausted and so many high paying jobs have been lost only to be replaced by minimum wage subsistence employment. Can somebody making $8.50 an hour afford to drive 15 miles to work when gas is $4 a gallon? If all of our money is being spent feeding our vehicles how can we buy anything else?

Say goodbye to any chance of recovery.