SEARCH BLOG: GASOLINE
Oil ran out of reasons to be artificially inflated. Now it looks as if gasoline has encountered the same market correction.
While the price of gasoline is still too high, the $3.00 per gallon barrier was broken this weekend in the Detroit area approaching $2.80. Elsewhere, the $2.50 per gallon price is being negotiated.
That is certainly good news for many battered economies. The problem is that the next increase will be the price of natural gas and winter is certainly getting closer. Sure, the Democratic-controlled Congress has given the go-ahead for more offshore drilling... but just wait until all of those court challenges start rearing their ugly heads. And if Obama wins and the Democrats keep their control of Congress, you can bet that there will be more smoke and mirrors than at a magicians convention... and little will actually get done to address the long-term energy needs of this country.
It just doesn't serve the purposes of the Democratic Party to have things run smoothly. Then there are no giant honey pots of special Federal programs for them to dip into. If you think you saw pork in the $700 billion bailout, just keep looking. There's a lot more where that came from. And if you think government intrusion in the marketplace will be bigger because of the bailout, just keep looking because you haven't seen anything yet. The big alternative energy programs are lurking around the corner while nuclear, coal, natural gas, and petroleum expansion will never be realized.
Then the average Joe will realize that the few pennies per gallon more or less isn't even worth talking about.
..
