Readers of this blog are likely aware that oil is really cheap right now. While in July 2008, the U.S. benchmark price peaked at just above $140 a barrel, its price dipped to below $27 in mid-January. The Internet is on fire telling us that a barrel of oil is now cheaper than the equivalent … Continue reading »
Is 2015 the year for a carbon tax?
Last year, during the holiday season the price of gasoline was at $3.57/gallon, which restricted the financial choices of everyday Americans. Actually from 2005 we consumers gradually adjusted to higher prices of oil. The adjustment wasn’t easy. Many lower-income individuals who purchased new homes far from work realized that they could not pay their mortgages, … Continue reading »
The (mostly happy) effects of falling oil prices
The rapid fall in oil prices seems to have taken everyone by surprise. I’ve noted before that it puts the viability of the Keystone XL project in doubt. But its other effects are worth considering. Overall, the fall in prices should have a beneficial effect on the U.S. economy. Since gasoline is cheaper, people can … Continue reading »
Romney vs. Obama: Showdown at the auto CAFE
Perhaps lost in the media focus on the Republican convention, the Obama Administration created CAFE standards two months ago. (CAFE stands for Corporate Average Fuel Economy, a fancy name for gas-mileage rules.) Romney immediately attacked the rules. It’s a very revealing – not to mention acrimonious — dispute. According to the Administration, the new standards … Continue reading »
Why are gas prices so high?
The second presidential debate is over. The spinning is going strong. Almost all the journalism seems to be about the contest. And that is too bad, because at a few points, there were actual issues raised that might be worth following through. For example: Republican candidate Mitt Romney argued that a president should be judged … Continue reading »
What (if anything) to do about California gasoline price spikes
Here we go again. A couple refinery disruptions, a pipeline shutdown, and before you know it gas prices in California have jumped more than 50 cents compared to the rest of the country. Soon politicians will be wringing their hands and calling for investigations. Some will blame it on evil oil companies, while others while … Continue reading »
The gas wars
Nothing drives voter sentiment like the price of gas – now averaging $3.56 a gallon, up 30 cents from the start of the year. It’s already hit $4 in some places. The last time gas topped $4 was 2008. And nothing energizes Republicans like rising energy prices. Last week House Speaker John Boehner told Republicans … Continue reading »