Posted on 05/02/2004 10:15:43 AM PDT by threat matrix
A gasoline industry analyst, Tim Hamilton of AUTO-an organiztion serving independent gas stations-is predicting the high gas prices of today will be the bargains of tomorrow.
The problem, Hamilton says, is Shell's plan to close its refinery in Bakersfield, California, and ship Washington refinery gas to California.
Shell says the problem is a shortage of crude oil.
The claim is disputed by some California state officials and by two refinery workers who spoke on condition of anonymity.
The two say supervisors have told them that if retail prices are $2.00 per gallon or more they can make more importing gas from other areas.
Hamilton's prediction: prices will hit $2.25 to $2.50 a gallon by summer and even higher next year.
(Excerpt) Read more at komotv.com ...
Gas prices were the highest ever around Memorial Day, 2001.
Gas prices ALWAYS go up in the spring, peak between Memorial Day and the 4th of July, then slowly fall, peak again at Labor Day and then go down.
It's seasonal, people.
http://motortrend.com/features/news/112_news14/
It's not going to make you feel any better watching those daily jumps in gas prices, but economists say that if prices were adjusted for inflation over the last 80 years, we could be paying $10 a gallon today. Prices at the pump have increased 31.5 cents a gallon since December, and the U.S. Energy Department is cautioning consumers to be prepared for more increases before the peak driving season begins Memorial Day.
...
Stephen Moore, an analyst with the Cato Institute, a libertarian think tank in Washington, said while newspapers are full of reports of "record prices," that doesn't take into account inflation. If the price was relative to pay levels in 1920, he said, gasoline would cost almost $10 a gallon.
The U.S. Energy Information Administration says that, adjusting prices for inflation, the all-time high was in March 1981, when pump prices soared to the equivalent of almost $3 a gallon today following the Iranian revolution and the outbreak of the Iran-Iraq war.
I've not looked into it very far, but I've heard that the problem isn't the supply of crude, it's companies producing only a set amount of gas at the refineries.
I'm pretty ignorant about the whole thing, though my instinct tells me that it's a little of column A and a little of column B.
I beg to differ. With the stroke of a pen the President can release millions of barrels from the Strategic Oil Reserve.
That certainly takes today's cake for interesting but useless trivia.
Especially the women and children.
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