Money Angles: Throw a Few More Kernels on the Fire

Throw a Few More Kernels on the Fire

The bad news (just to get it out of the way) is that the energy crisis seems to be resurgent. One sign: energy-related stock prices have been rising in greedy anticipation. Shares in Offshore Logistics, which leases helicopters to offshore drillers, rose from $2 a share to $12 last year. A less oblique sign is that the U.S. is back to importing fully 46% of its oil, or 7.9 million bbl. a day, the largest percentage in ten years. Domestic production of crude oil recorded its biggest decline ever last year, falling to a 26-year low.

The good news is that...