The April 6th Chicago Tribune reports that oil prices climbed to 18-month highs, which, as we all know, means higher prices at the pump. Some worry that this bides bad for economic recovery.
To my way of thinking, it was this run for the money back two years ago, when gas got to over $4 a gallon that initiated the whole economy thing.
Monday, average gas prices across the nation hit $2.82. Around here, northeast Illinois, it ranges from $2.94 to $3 with most stations keeping it at $2.99.9 so people won't know they are really paying that magic $3. Of course, we are always higher than the average.
There is a fear that motorists will cut back on driving and elsewhere. Well, as the kids say,, "No duh!" (Do they still say that?) It happened two years in July 2008 when oil was selling for $4.11 a barrel and by December had dropped to $33.
Who is to blame? I have noticed that oil prices were kept up higher than it should have been during the winter. Around here it got down to about $2.49, then jumped back to the $2.60s and stayed there until this last month. That is exactly what happened back in 2008. Gas was kept high.
By who? I am not sure exactly, but am fairly certain the GRBs at Big Oil, you know, the guys who made those obscene profits in 2008, are involved in it. Also, those Middle East countries, perhaps as punishment to the US for our stuff in that area. And let's not forget the day traders and especially the hedge funds.
Thanks a lot guys. I am definitely going to cut back on my driving.
Remember, What Goes Around Comes Around. --RoadDog
The difference north and south.
In the nawth, you have Indy Car races. In the south you have stock car races.
Being an account of some things I'm interested in, what I'm doing, and reflections on my past, especially music.
Listen to this man. Seven years of college, you know. Trying to reason with 2020 and, now, 2022.
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