There was a story heading around about groups praying to lower gas prices. I scoffed. You can't really lower the gas prices the amount you can pump depends on the sources you have and even pumping as hard as we can we only get less than what we pumped back in 2006 and the rate has started to decrease. With increasing demand the price of gasoline and oil more directly is going to continue to go higher and higher without fail or end in sight.
But, the Lord works in mysterous ways. They started praying as national gas prices were at $3.53/gallon. It was near 4 dollars when the story was being picked up nationwide. Today the national gas prices have fallen below $1.80/gallon.
Wow. How did God do it?
That's the DOW Jones from May 2008 until today. Crashing the world's economy reduces demand. If you don't have a job, you don't have to drive there.
I was clearly wrong. I lacked imagination as to how gas prices could ever be lowered given increasing demand and stalled output. I figured that peak oil would crush us under the mighty and clear implications that we were wanted more of a limited resource than could be produced. I simply didn't consider crashing the world's economy.
"When the gods wish to punish us, they answer our prayers." - Oscar Wilde.