November 21, 2007
Gas prices: Up, and up, and ...
Ah, the good old days, when gasoline sold for less than $3 a gallon!
Was it really just two weeks ago we posted about gasoline prices approaching that level? Yup.
So much for the suspense. Worldwide, a barrel of crude oil is flirting with $100 a barrel (it hit $99.29, a record, yesterday), a number unthinkable as recently as this summer. Venezuela's president Hugo Chavez, looking ahead, threatened $200 a barrel just a few days ago, although this morning, former Saudi oil minister Ahmed Zaki Yamani said it could tumble as low as $75 a barrel if OPEC decides to raise output next month and if the winter season is mild. Two big "ifs." But he echoed Chavez warning that prices could surge as high as $200 if the United States attacked Iran.
That SUV doesn't seem such a good idea these days, eh?
As the chart above shows, average prices in Wisconsin, Milwaukee and the U.S. are solidly above the $3 figure; cheapest price for regular in Milwaukee today was $3.09.
Enjoy your holiday travel. Try not to think about it.
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We can do quite a bit about this.
ReplyDeleteCar Pool, take the bus, combine trips. We can as a Country do more too Drill off the Coasts Drill in the far north. Allow exploration for Oil and Gas in now off limit sites.
Surport the use of Bio-Fuals perhaps even build a Bio-Fual plant around here. (Soy Bean Bio-Fual)
However until we get over our love affair with the car and contune to view users of mass transet as losers we will just have to put up with the high prices.
It will not end the high costs but