Friday, June 9, 2017

So Much Could Be Written -- June 9, 2017

What a doofus

New York Times: drivers head into summer with a gift at the fuel pump.
  • Look no further: The average nationwide gasoline price on Friday was the lowest for this point of the year since 2005, according to GasBuddy, a website and smartphone app designed to help drivers find the best deals at the pump
  • The immediate cause of the price break was the shock to global oil markets that came when the Energy Department reported this week that domestic inventories of both crude oil and gasoline had surprisingly surged the week before despite heavy driving on the Memorial Day weekend
  • Crude oil prices plummeted by more than 5 percent on Wednesday alone, and are near a one-year low at less than $46 a barrel
Gee, I wonder why that surge in US crude oil inventories? Tell us again that Washington will ban fracking. Peak oil? What peak oil? It's interesting to note that the writer gives no credit to the oil and gas sector for creating this situation. The writer actually wrote this:
But whatever lies behind the dividend at the pump, drivers are happy to have it.
"Whatever lies behind" low prices? Wow. Shallow reporting at the NY Times

And we can't forget Jimmy Carter, who was ready to mandate mandatory gasoline rationing. This is simply pathetic:

Another doofus

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