The only crisis is what the price gouging is doing to our economy.
"Gouging"? If you have something I want, I expect you'll go right ahead and charge me whatever you think you can get for it. That's called "capitalism" and I'm all for it.
Now, if you think I am in need of some help and you are willing to provide it, feel free to sell it to me at a reduced price. That's called "charity" and I'm all for it, too.
Please explain then why I just paid $.25 less a gallon today at the SAME gas station I filled up at last Wednesday?
Please explain then why I just paid $.25 less a gallon today at the SAME gas station I filled up at last Wednesday?
Blame the economies of China, US and India. China is now importing 1.5 million barrels, India about 1 million, and the US has increased by 700,000 barrels per day (from 4 years ago). Even though new supply is coming on stream, the superheated economies are increasing demand. As soon as the world economy starts slowing down, gasoline, oil and natural gas prices will start to drop rapidly.
When the costs are no longer being fully covered by prices, production is likely to be cut back, whether it is the production of oil or anything else. This is not speculation. This is what has been happening for literally thousands of years, going back to price controls in ancient Rome and Babylon.
Just thought I would let you two know, Gas dropped another $.05 yesterday here. We are now paying $2.44 a gallon.