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"This country is facing permanently higher energy prices," Mr. McNally said.
The net welfare impact of permanently higher M&A activity is much less clear.
Why is it obvious that Boston can maintain a permanently higher price level than Atlanta?
If growth slowed to 1%, inflation would have to be permanently higher, ie 4%.
Investors fear that the spike in oil and food prices will lead to permanently higher inflation.
And from there, higher levels of investment and innovation could well lead to permanently higher rates of economic growth.
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(Document fraud is permanently high on the antiterror worry list).
A permanently high plateau of prosperity, you might say.
Predictions that global oil production would eventually peak, ensuring prices stayed permanently high, never materialized.
And green investors might be unwise to rely on permanently high oil prices.
Professor Irving Fisher of Yale University: "stock prices have reached what looks like a permanently high plateau".
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