Just returned from a day of travel for personal reasons. Stopped for gas this morning, paying $3.64 per gallon which sounds like a reasonable price, demonstrating how inured we’ve all become to spending hard-earned money because of a bunch of radical's lunatic, baseless environmental ideas.
Thanks to these zealots misguided perceptions, fuel now sells for almost twice as it should, and indications are prices are likely to rise even higher in the near future. About two weeks ago, the barrel price for oil ranged from the high eighties to low nineties, still far higher than it should be, but better than it's been for quite some time. Additionally, consumption had waned, suggesting further future reductions.
And then some Egyptians decided to overthrow their government, riot in the streets and by their actions raise the possibility of harm or closure regarding the Suez Canal. Whereupon speculators seized the opportunity to gouge future prices, which this afternoon closed at $106.40 per barrel, up $16.00 or so from where it was before the insurgency began.
Which brings me back to the same question I keep raising frequently. How long are people going to sit still, while the incumbent continues to block the Keystone pipeline, cuts back licensing for shale, and curtails off-shore-drilling, particularly in the gulf of Mexico?
A couple of days ago, I wrote about some Middle-Eastern guy who bought a half-billion dollar boat, trying to make the point that I thought it beyond tragic that there are U.S. citizens who have to decide between purchasing food or fuel. Yet, trillions of our dollars have wound up overseas, simply because of misguided political ideology and distortion of facts. And I for one, am very, very tired of paying so dearly for idealist’s mistakes, but most often it seems no one else cares at all. Which is why I get the feeling I'm (no pun intended) yelling down a well.
That’s it for today folks.
Adios
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