Readers Blog: Greener Milwaukee

Fuel Press: Gas Prices Skyrocketing

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$1.89 is the average price per gallon in the Milwaukee area as of this week.

Did you know it was just $1.68, a week ago?

What gives? Oh yea... Geopolitical instability.

The powers that be (Exxon, OPEC, and the usual suspects) cite "Tension in the Middle East" as the cause gas prices jumped over 10% in one week. 

That's a new one There is trouble there, really? I wonder what could be going on? Whatever it is, my wallet took a hit this week just when I thought i could fill 'er up with a 10 spot and be on my merry way.

Well, the holidays are over and with it the season of charity and good cheer.

This Middle East thing strikes me as an excuse as many political analyst actually saw it coming for a few reasons:

A. It was inevitable

B. It was inevitable

C. The American presidential post and it's power are in flux. Many people predicted this behavior and certainly could have hedged fuel production accordingly. However, that would have been a responsible thing to do hence bucking the system of record corporate greed and political stalemate that worked so well for us in 2008.

See you in the bike lanes come winter thaw.

 

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Talkbacks

Greener Milwaukee | Jan. 8, 2009 at 10:07 p.m. (report)

Great talkbacks, I appreciate all your comments and contributing to the social dialogue. I look forward to hearing more from you in the future. Keep it Green!

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AJR Journal | Jan. 8, 2009 at 8:11 a.m. (report)

This up-tick in gas prices is what is called the "dead cat bounce". After falling from $147 per barrel to $35, it is understandable how it would recover slightly to $47. The oil market is always under considerable pressure and, historically, prices tend to collapse (Read "The Prize" by Daniel Yergin). This world has ample oil and gas supplies for the future.

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ChateauDweller | Jan. 6, 2009 at 3:21 p.m. (report)

Greener Milwaukee---I have no idea what you mean.

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rnzh102 | Jan. 6, 2009 at 3:05 p.m. (report)

What goes into the rise and fall of crude oil prices is the most pointless debate in the world right now. Have you noticed that the "experts" can't even predict what is going to happen? My vote is that it is a guy behind a curtain with a very deep echoing voice who just sets the price however he sees fit......or wait, maybe that was the Wizard of Oz? Either way, I don't think anyone should be bitching because gas is the only product in the world that is priced at a 6 year low right now.

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sas_tarr | Jan. 6, 2009 at 2:23 p.m. (report)

Neither Israel nor Palestine has any oil. Let them have their wars and let us follow Thomas Jefferson and Gen.Washington advice of free trade with everyone and aliance with no one.
I hope Pres-Elect Barack Obama would follow his promises during his campaign and cut american welfare to other countries.

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