It looks like 2008 will end with our country in a recession and, surprisingly given how things looked in the summer, with our country further away than ever to coming to grips with the need for a real energy policy.
While in New Jersey visiting family earlier this week, I purchased gas (full serve too — remember this was in Jersey) for $1.39 a gallon.
As my father reminded me, this is good news for many folks struggling in the recession to make ends meet and who had trouble affording gas to go to work or to job interviews. And he is undoubtedly right.
But surely, in this country in which anything is possible, we can figure out a way to harness the commitment to a new energy policy that was present when gas was $147 a barrel (more than $4 a gallon), while ensuring that people who need help getting by can receive it.
I saw this morning that oil is around $37 a barrel, making good on a prediction this past fall by analyst Peter Beutel that oil would go at least this low. His prediction came in the form of a warning: that oil would go to 37 and maybe lower, that we as a country would lose our will on energy policy and do nothing, and that the next time we have a spike it will go twice or three times as high as in the summer and we’d be in real trouble.
The aviation community came together as one in the summer on this issue and few industries are as impacted by energy spikes as we are. We need to maintain our focus and encourage our new president to maintain his, as he promised he would in his 60 Minutes interview.