But back to the story of the day: gasoline prices headed up -- back to $4 / gallon despite demand destruction and really, really inexpensive domestic oil (compared to really, really expensive Brent oil), and really, really low domestic gasoline taxes (compared to really, really high gasoline taxes in England).
From Chicago:
Hold on to your wallets: we are in the middle of a gas price spike, and experts say it will only get worse.
CBS 2′s Courtney Gousman learned several factors might push the price in our area to more than $4 a gallon.
He said refineries are already getting ready for the summer blend, and slowing production of the winter blend, resulting in a reduction of gasoline supplies.
Wednesday’s fire at a Toledo refinery will also make things worse.Across the street, the gasoline has been at $3.49 for the longest time, but now, today I see it is $3.65/gallon for regular.
http://www.dailygalaxy.com/my_weblog/2013/01/ecoalert-fracking-the-bakken-shale-formation-seen-from-nasas-earth-observatory.html
ReplyDeleteI thought you might find this interesting - assuming you haven't already seen it.
Yes, I have seen this many times but I never get tired of looking at it. Thank you for sending it my way.
DeleteThere are a lot of story lines in that short "news story." The two biggest story lines:
1) this is only a small part of North Dakota; about four counties in all; not "North Dakota" at all; and,
2) the percent of natural gas being flared continues to decrease, to the chagrin of the faux environmentalists.