Does The Gulf Of Mexico Oil Spill Mean That The U.S. Is Headed For Gas Lines, Higher Food Prices And A Broken Economy?

Wednesday, June 23, 2010
By Paul Martin

The Economic Collapse
June 23, 2010

As the Gulf of Mexico oil spill crisis enters a third month, the economic impact of this environmental nightmare is starting to become clearer. The truth is that the “oil volcano” spewing massive amounts of oil into the Gulf has absolutely decimated the seafood, tourism and real estate industries along the Gulf coast. Not only that, but energy industry insiders are now warning that the chilling effect that this crisis will have on offshore drilling could precipitate a new 1970s-style energy crisis. Considering the fact that the U.S. economy was already on incredibly shaky ground even before the oil leak, the last thing we needed was a disaster of this magnitude. But it has happened, and the reality is that the long-term effects of this crisis are potentially going to reverberate for decades.

The American people certainly have a negative view on the impact that this oil spill will have on the economy. According to a new poll, about eight out of every 10 Americans expect the oil spill to damage the U.S. economy and drive up the cost of gas and food.

But is a new 1970s-style energy crisis really a possibility?

Could we actually soon be headed for blackouts and gas lines?

Well, former Shell executive John Hofmeister believes that is exactly what we are headed for….

“Within a decade I predict the energy abyss looks like brownouts, blackouts and gas lines.”

In fact, Hofmeister claims that some of his fellow energy industry insiders expect things to be even worse than he is projecting in the years ahead.

Why?

Hofmeister says that the problem is the U.S. government….

The Rest…HERE

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