My wife’s engagement ring contains a marquis cut diamond appraised at $2000. I bought it at a pawn shop for $600. The pawn broker was ready to shoot me dead if I tried to steal it. When I paid him the $600 he was asking, he got teary eyed, ransacked his back room for a jewelry box, admitted he would have taken $550 because he could tell I am a good man, and promised that she would have no choice but to marry me in the face of that sparkling gem. It is a thing of beauty, no doubt.
Diamonds are plentiful and relatively indestructible. The second hand market is glutted with diamonds that no one wants because, without the sentimental value, they are comparatively cheap. Oil is not like that. Once it is consumed it exists only as a cloud of excrement. Our collective cloud of excrement has become a life-threatening problem as a result of economic forces set in motion by the General Motors streetcar conspiracy, in which five companies were convicted of conspiring to destroy electric-powered mass transit in favor of oil-powered transportation. Continue reading