2008 Redux

Gas prices are the highest in history at this point in the year, except for 2008. That was a fun year. Gas prices are already over $4.00 in California, New York and Chicago. I wonder if history will rhyme? If Iraq blows sky high or a couple of large hurricanes drift into the Gulf of Mexico, the resulting oil price spike will ignite a new conflagration that will make the 2008/2009 implosion look like child’s play.