{"article":{"id":204210,"heading":"$50 gas at the pump","author":"Anton Macker","created":"2007-08-13 10:09:26","modified":"2013-11-11 00:49:19","last_modified":"Mon, 11 Nov 2013 07:49:19","article":"

CARACAS, Venezuela—

Hugo Chavez predicted oil prices will soon hit $100 a barrel.

It may not be that soon but it will come in fits an starts.

The West will slide into a recession comparable to those that of ‘73.

The $100 barrel will be dramatically inflationary to the economies of the West, while at the same time suppressive of their economic activity and stock markets.

Unlike ‘73 this will become a more or less permanent economic condition for the West.

In the beginning, long lines at gas stations, with only people with an odd-numbered license plate will be able to purchase gas on an odd-numbered days.

The more permanent condition will be no lines as no one will have the money to buy the gas or a job to go to.

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