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COPYRIGHT 2005 Investor's Business Daily, Inc.
Energy: "No More Oil! Economy Will Collapse! Millions Will Starve!" shrieks one headline. "The Breaking Point," shouts another, about the coming collapse of oil output in Saudi Arabia. Time to worry?
Maybe not. Actually, the first headline was in a recent Weekly World News, better known for featuring intergalactic aliens on its cover. The second was the lead story in the Aug. 21 New York Times magazine.
Neither, to us, seems very credible. Yes, oil prices are surging, and the havoc that Hurricane Katrina is wreaking has only made things worse. Using an Energy...
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