In only a few weeks American motorists will face yet another spike in gasoline prices, according to the Energy Information Administration, the U.S. government’s top energy forecasting agency. The target: $3.50 / gallon.
Follow this link for the EIA’s short-term energy outlook, which includes their projection for gasoline prices this spring:
Retail prices for petroleum products are expected to increase in 2008, pushed up by the higher average crude oil prices. Both motor gasoline and diesel prices are projected to average over $3 per gallon in 2008 and 2009, with monthly average gasoline prices peaking near $3.50 per gallon this spring.
Follow this link for the Reuters story.
As we approach the November elections, Americans need to pay careful attention to energy issues when deciding whom to vote for in the Presidential, Congressional, and state races. Our nation needs to invest in alternative energy sources before our economy melts down and threatens our political stability. We may be facing our most serious national crisis since the Civil War.
HT: Mainstream Baptist.
10 January 2008 at 9:59 am |
Investing in alternative energy is a great idea, but I think we need to examine the system that is delivering and refining and distributing our oil and gas supplies. The price keeps going up, but is wholly due to the rising cost of crude? One notes that the oil and gas industries continue to post record profits each successive year as the prices rise. I suspect there’s a lot of excuses and handwaving going on to justify what is mostly a way to put even more money into the pockets of energy executives. Compare the executive pay packages when gas was $1.00/gal and now and note the difference, even allowing for inflation.