Monday, May 26, 2008

On The Loan Prairie

The urgency of our gas situation is becoming obvious to all levels of society - which does not include gas company executives. Here we in the vast spaces of the West, there is disaster looming for the less affluent population. When I consider that our savings level in the U.S. is nil, or minus, I can really feel the pain around here.

According to the American Bankers Association the level of delinquencies—or people behind on payments—for certain loans recently was the highest in almost 16 years. Where do those already behind get the money to pay double for gas?

Memorial Day is the traditional start of the summer driving season. Hope you're flush this summer.

Gas prices are higher than Willie Nelson on the Fourth of July. American Airlines, pressed hard by high jet fuel prices, shocked flyers last week by announcing plans to start charging for transporting luggage. Every day brings more evidence that life is changing under the petroleum price assault.
Our economy and way of life – especially in sprawling, car-crazy North Texas – depends on a steady and affordable supply of oil. It can't last, because oil is not an infinite resource. We might not be at the end of the cheap oil era yet, but when that day comes, its dawn will look something like what we're living through today.

We must start transitioning to a far less oil-intensive way of life. It can't be done overnight. Complacency is our enemy. Politicians, business leaders and every single one of us should read the signs of the times, and get on with it.

The editorial I cited above is from the Dallas Morning News, which then goes on to call for the transit system to be broadened, the present scheduled construction pushed forward to combat our increasing emergency. As Atrios pointed out this morning, $133+ is the latest high, but this is not the end of the spike in prices.

There is no excuse for fighting back our rail system, here or anywhere. The personal car may be spoiling its owner now, and the air, a situation that cannot be supported any longer.

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