For the first time ever, with oil prices pushing $140/bbl on Friday, the U.S. national average price for gasoline cracked $4/gal: Gas price record reaches $4 a gallon NEW YORK (CNNMoney.com) — Gasoline rose to […]
Tag: oil prices
The Ripple Effect
This is why I think we have some tough economic sledding ahead as the full impact of the current oil price starts to ripple out: Beyond gasoline: Prices surge for oil-based goods New York – […]
Nationalize the Oil Industry?
In a post I wrote just over a year ago – Peak Oil: End of the World? – I posed the following: If you think the public is outraged now, wait until gas is $10 […]
An Amazing Disconnect
Why Are Oil Prices Rising? The Picture Tells the Tale (Credit to Optimist) The recent, rapid climb in oil prices has started to get everyone’s attention. In fact, when people use Google to search for […]
Crude Cracks $130
I am still trying to extract myself from underneath an avalanche of e-mails, but thought I would post just a bit on oil prices, which are again in record territory: Oil passes $130 for the […]
Stop Filling the SPR?
To me, some of the most humorous ideas for relieving high oil prices are the perpetual calls to release oil from the Strategic Petroleum Reserve (SPR). Note what the SPR is actually for: The Strategic […]
Oil to $250 a Barrel?
In case you missed it, there were several stories this week – and of particular note coming from OPEC – that suggested that much higher oil prices may be on the way: Oil Price May […]
Why Oil Prices Aren’t Going Down
I kept expecting a pull-back in prices at $90/bbl, then $100, then just watched as prices kept climbing to today’s level of $118. While I won’t be surprised if we do see a short-term correction, […]
Today’s Stories of Interest
There were quite a few interesting stories today, so here are a few Drumbeat-inspired headlines and excerpts. Gasoline: Painful, and getting worse NEW YORK (CNNMoney.com) — So gasoline prices are at an all-time high. But […]
A New Gasoline Price Record
Update: I am gasoline-centric like most in the U.S., but as a reader pointed out, diesel prices are way up there as well. Whereas gasoline just barely beat last May’s record, diesel is currently $1.00/gal […]