tales from the gas crunch

[cluebyfour]

• I was wrong: Americans are driving less, to the tune of 11 billion miles in March compared to last year.  And mileage dropped another 4.5 billion in April vs. a year ago.
• The current markup in gas prices includes speculation that hurricane season (which began June 1) may disrupt supplies, but it could go even higher if another Big One hits the Gulf.
• If you can't drill for it, maybe you can grow it: scientists are experimenting with bacteria that eat waste and excrete oil.
• Police in Orlando bust a gas thief with a surprisingly sophisticated set-up: an 800-gallon tank welded into his truck bed and a key that disabled pump meters.
• GM announces that its first-generation series hybrid, the Chevy Volt, will start at $40,000 and the General will still lose money on it.  But never fear, greenies!  The rest of us will help you buy one by providing up to $7,000 in tax credits, if legislation currently under consideration goes through.
• Speeding in Georgia will earn you a fine and a "fuel surcharge" to offset the spike in fuel costs for the cops.
• High gas prices + high merchant account fees = "Credit Cards Not Accepted Here".
• Warren Meyer obliterates the idea that speculators are somehow bending the oil market to their will and keeping prices high.  An idea espoused by Barack Obama, incidentally.  And John McCain, too.  Who else had a hard-on for speculators?  One Vladimir Lenin, although I have to admit his method of dealing with them is probably less costly than anything Congress could come up with.  Bill Anderson on other Congressional attempts to wreck the domestic oil industry.