-By Rick Norris
During a May 7th interview on the CNN Glen Beck program, oil industry analyst Byron King suggested the possibility of $200 per barrel of oil by October of this year. Be prepared for shocks in places other than at the gas station.
As the cost of oil increases daily, our national security is affected significantly. For instance, Clayton B. Reid writes in the March 2008 issue of NewsMax that, “…for every $10.00 per barrel increase, US Air Force fuel costs rise $610 million per year.”
At three gallons per mile for an Abrams tank one can only guess at the increased costs for our armored forces. Operational costs for all the services just for getting from point “A” to point “B” are set to increase at an alarming rate solely due to fuel expenditures. Costs for heating or cooling living quarters on military posts and stations in the U.S. and around the world will also rise accordingly.
Continue reading “So You Thought It Was Just At The Gas Pump?”