It is silent on the impact of oil prices on construction costs, and is silent on the impact of oil prices on how much people drive.
This is such a basic subject these days, and WisDOT does worse than flunk it -- WisDOT doesn't even show up for class.
Meanwhile, we have this piece of news from the San Diegeo Union:
LONDON – Analysts sharply raised their average forecasts for oil prices next year to a record near $74 a barrel on expectations for a cold winter season, a weakening dollar and an influx of fund money, a Reuters poll showed on Monday.
The monthly survey of 37 analysts put the consensus forecast for U.S. crude futures (CLc1) in 2008 at a record average of $74.43 a barrel, up $3.94 from last month's poll. The average price for oil so far this year is $70.20.
“Our oil price scenario assumes a rise in the average price of oil to $100 at the peak of the winter season and a correction from March into spring,” said Harry Tchilinguirian, senior analyst at BNP Paribas Commodity Derivatives.
“Weather is a key caveat, but we assume that cold weather will trump a U.S. economic slowdown as the market's overriding concern,” he added.