Gas prices have risen in recent weeks. They are now near $3/gallon around here a big rise from the $2/gallon low of last winter. This isn't really a big surprise to me. I suspect we are near (if not actually at) peak oil . Which means that, while there will continue to be fluctuations in the price of gas, the long term trend will be strongly upward. This of course will be bad for the economy, one of the reasons I am nervous about the economic future even after we are past the present crisis.
On the plus side, this would be good news on the climate change front. Some of the more pessimistic scenarios may be impossible because there just aren't enough fossil fuels readily available. See this via Stoat . Of course there are reasons to be cautious about basing reserve estimates on current technology.
3 hours ago