Gas speculation

[texaslawchick]

10 lbs of awesome in a 5 lb bag has a post up about gas prices that I think is pretty interesting. The Truth About Cars opined today about the cause of higher gas prices. William C. Montgomery says that the culprits are not the oil companies, supply or refinery shortages, growth in India and China, or the lack of domestic drilling and production.

Comments

[fairoriana]

I would find it very interesting to see how much of the rise in gas prices has to do with the fall of the dollar... like a comparison between how much gas a Euro bought 3 years ago vs. today, and how much gas a dollar bought 3 years ago vs. today. I bet that the price of gas is substantially less for those who aren't tied to the dollar economy.

Damn you Bernanke and your rate cuts!

[lovelypoet]

Yeah... but we're still paying far less than almost anywhere else in the industrialized world.

[cosmicbob]

After someone I know bitched about $4.00/gallon gas, a friend of ours, in the UK mentioned that gas in England is $13.00/gallon, some of which can be blamed on the poor dollar.

Some people in Minnesota have gotten very bent out of shape over a recent $0.05/gallon increase in the gas tax - an increase to be spread over two or three years! Perspective? What's that?

Thanks!

[ext_98102]

Thanks for the shout-out!

Interesting point about the "energy security" issue. Drilling in those areas likely would increase our security, in case the OPEC nations ever decided to cut us off, but I am pretty certain that they won't cut gas prices any time in the near term.