Yes, I forgot to put one up last week in the rush to get to DC (I HATE flights that leave at 7 am), but I’m back this week.
My gas price (south-suburban Milwaukee, WI) - $2.979/gallon
Well, we’ve had the ban on offshore drilling expired for two weeks, and even though I haven’t been paying very close attention, I don’t seem to recall any news on new leases. Then again, we do have an election coming up in 3 weeks, and the party that seems poised to win has promised to shut off the spigot.
If that happens, we’ll look back at $4/gallon gas and $140/barrel oil, and whatever you were paying in your locale for electricity, natural gas, and heating oil at their peaks to date with nostalgia. Do recall their non-drill “drill” bill that would have put most of the OCS off-limits. Do also recall they snuck a tax increase on domestic oil production into the bailout bill.
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Umnnnhhh…petroleum prices are collapsing due to a total lack of demand and deflation.
Same reasons housing prices are collapsing.
So noted. However, I expect the additional restrictions the ‘Rats want to put on domestic oil production to bring us right back to the very top end of the supply/demand curve.