Well why should anyone be surprise with rising fuel costs? We have turned a few giant nations into giant behemoths sucking resources like there's no tomorrow. While we have chosen to forgo local jobs for the sake of cheap goods we blindedly didn't notice that our Asian neighbour nations were becoming wealthier by the second. China's domestic market now is consuming 1.2 million cars a month. Where are the big oil finds that we need to keep this momentum - it's been years (maybe decades) since the last big find.
The GFC proved only one thing - and that is that those who are responsible for setting limits on borrowing, debt, consumption and policies have only one goal in mind - and that is to maximise consumer satisfaction now to have power but at a cost for future generations.
If we continue to sell commodities as we do, if we can have cheap access to oil, if interest rates do not go beyond average then nothing should change. Take away one of the 3 mentioned and the whole house of cars would look very unstable indeed.
