Markets work, guvments just distort markets.
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MARKETS AT WORK:
Call it the paranoid theory of petroleum. Somehow, dark forces behind the scenes keep us from doing anything about soaring oil prices. In fact, something is being done to bring down oil prices. And you're doing it. . . .
U.S. fuel demand in the first three months of 2008 was down 1.4% from a year earlier — the third straight quarterly year-over-year decline in a row.
Gasoline consumption has risen about 1.5% a year since 2000. But Energy Department data showed demand in the first quarter edging down for the first time in more than two decades.
In short, the tide has turned.
The New York Times notes that U.S. car buyers have suddenly gone ga-ga over small cars. One in five purchases is now a compact or subcompact, while SUV sales are off 28%. "It's easily the most dramatic segment shift I have witnessed in the market in my 31 years here," said George Pipas, Ford Motor's chief sales analyst.
Go figure.
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"Yankees fans who say “flags fly forever’’ are right, you never lose that. It reinforces all the good things about being a fan. ... It’s black and white. You (the Mavs) won a title. That’s it and no one can say s--- about it.’’
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