U.S. Heading for Another Gas Crunch?

Posted by Jim Spence on Wednesday, January 12, 2011
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Washington Times - With gasoline prices at unusually high levels for this time of year, a report from a presidential commission Tuesday did little to break the political deadlock over offshore drilling, prompting some observers to warn that the U.S. is headed toward another gas-price crunch this summer. The nationwide average price of regular gas over the weekend rose to $3.08 a gallon while crude-oil prices have surged to more than $90 a barrel — levels seen in only one previous winter, in 2007-08. Gasoline prices then ran up dramatically in the 2008 spring-summer driving season and reached an all-time high of more than $4, prompting public outrage and demands that the government open offshore drilling for the first time in 30 years. Read full story here:
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2 comments:

Anonymous said...

In 1931, a barrel of gas cost $1.00. The price dropped to 2.5 cents per barrel and the government in collusion with the oil companies urged conservation. The reason for conservation then as now is to raise prices NOT to save substance.

The government and oil producers are charging well over the price that oil should sell for if one accounts for inflation. There are many more oil users today so the supply/demand curve has changed. Still I for one believe we are being gouged. How do we fight this? Stop consuming. Don't buy the product. This might hurt a bit when you can't run to the store for each piddly little thing but learn to manage.

January 12, 2011 at 9:45 AM
Anonymous said...

Remove the outrageous taxes included in the price of fuel and the price is significantly less. Everyone should try to conserve but at the end of the day we drive where we have t drive. You can start protesting by supporting Governor Martinez' decision to fire the EIB and prohibit the EIB's stupid "Cap & Tax" regulations that have hurt us all. The claim that the new taxes will help reduce greenhouse gasses is a con and a lie by a despicable group of left-wing loons that were once a part of the wealth redistribution conspiracy being qwelled by the voters and newly elected leaders, in America, one venue at a time.

January 12, 2011 at 6:52 PM

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