OBlunder sticks foot in mouth again; of course, to our detriment. This Daily Ticker article clearly explains his illogical and quite naive understanding of gas prices and causes. When I lived out here in Texas in the 80s I took my kids to a discovery Center in Oklahoma where they had a computer model that you could login to and which explained the law of Supply & Demand. OBlunder, schedule one of you many, many taxpayer vacation and trips to something simple that you might understand. Given restraints on oil supplies (Iran) and demand of oil (China), there is only one way oil prices can go. UP! We've been seeing Supply and Demand work in the natural gas industry where the new discoveries and drilling produced much more gas than demand for it. Thus, natural gas (yes, you heat) went down. But, beware, more and more electric utility companies are converting from coal to cleaner natural gas BECAUSE the prices are so low (demand going up), plus, oil rig drillers are also starting to run their drills with gas instead of diesel (demand up even more). Now if the car industry really got their act together and the consumers buy in, natural gas could become a viable supply to consumers (more demand). Want to guess which way diesel will be going?
OBlunder has neither a short-term solution, nor a long-term solution for the most dominant energy we use - oil & gasoline. Hello. We've been waiting for almost 4 years now and could have had additional U.S. Oil production hitting the market already (CA rigs that are already built). We could have had a nuclear plan or two, instead of just ONE approved one (some are already built and not being used). Interest in gasoline for you car, consider refiners in addition to oil prices. Their old, constantly-being-repaired facilities are major interruptions to steady gasoline prices. OBlunder, why are you holding up the exporting of natural gas? Why all the regulations to hurt all oil & gas energy? Time for you to step OUT OF THE WAY!
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