If it's news, but not politics, then it goes here.
http://thehill.com/blogs/blog-briefing- ... gas-prices
"We went into a recession in 2008 because of gasoline prices," Santorum said in Michigan according to Buzzfeed. "The bubble burst in housing because people couldn’t pay their mortgages because of $4 a gallon gasoline."
And now here we are on Labor day weekend, with US production up by 2mil barrels a day (and increase which represents an unprecedented uptick in recent history), and prices are breaking $4/gal again. Clearly, "drill baby drill" doesn't work when refineries are forced to shut down even temporarily. The ability of a small disruption in supply to cause such a big pop in prices is not the result of a failure to drill or greed on the part of "Big Oil". It is the result of a built environment that leaves Americans no choice but to ignore price signals and continue driving when supplies are tightening.
Who is online
Users browsing this forum: No registered users and 2 guests