Today, Bloomberg.com is reporting the price of crude down to $80 a barrel...why is everyone silent on this news? I don't call it good news or bad news because I still believe price is a result of the market. The price is just that, what people are willing to pay (the demand) and the availability of a product (the supply). With so many factors in the supply of oil (explorers, drillers, shippers, refiners, distributors, truckers, retailers), the price of fuel in America is very complicated. I don't buy into the idea that "Big Oil" companies sit around creating the price daily. Now the OPEC countries do have a lot of power controlling the supply...sucks that we send so much money overseas and increase their power and control in the world. Would be nice for us to drill more in the US and build more refineries that are environmentally friendly. So much to talk about here...new sources of energy are definitely needed.
So I paid about $4.20 a gallon a few weeks back and now Sinclair has unleaded listed at $3.40 a gallon...good, but not exactly great. I hear more people changing their demand behavior...seriously looking at hybrids or natural gas cars, careful planning of their errands around town, commuting with public transportation, and thinking twice about long road trips. The freedom and opportunities the American car gave this country were amazing over the last century...I hope that does not get lost in our effort to conserve.
1 comment:
$2.46 here. We're loving it!
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