Speaking of gas prices, combine Marvin Sapp + the Tom Joyner Morning Show + one of the biggest election year issues and what do you get? Sheer hilarity:
"Amazingly, this simple rule did better than the average of dozens of professional forecasters! In fact, the no-change forecast was 34 percent more accurate at predicting oil prices in 3 months time, and 18 percent more accurate at predicting prices in a year’s time. While professional prognosticators might argue that this difference isn’t statistically significant, it sure is embarrassing."Also, here's a graph of oil prices over the last 40 or so years. Click here to see prices as adjusted for inflation juxtaposed with the real prices. We've covered the conflicts and what affects oil prices a lot in my macro theory classes (fellow economics majors stand UP!) but recently I'm kind of at a loss when it comes to hope for our energy sources. Thank goodness people like T. Boone Pickens (whose NYT editorial I posted a couple weeks ago) have a lot more money and a lot more knowledge on the subject and are pushing for change. Of course it's not enough to just sit and wait for others to incite the change and carry it on their backs. Where do I sign up for a windmill in my backyard?