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Gas Plummets
One bright spot for struggling Americans this holiday: gas prices hit a five year low yesterday. "We're paying about a billion dollars per day less than we were in July" for gasoline one analyst. "We could probably bail out some banks and maybe even some of the auto companies with the savings." The news isn't all good. Pump prices have fallen in part because more families are staying home, driving nine billion fewer miles in October. Pump prices are now down to a national average of $1.64 a gallon, a far cry from the $2.98 average a year ago. Oil producing countries responded immediately with plans for more production cuts.
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I hope people are smart enough to stick with the driving reductions and increased use of mass transit services to never again fall prey and hostage to the oil producing bastards that seek to covet our unyielding desire to drive everywhere. Now that you are used to high priced gasoline and the price has fallen, do not be tempted to start this ball rolling again. Deal with the low cost as if it were still to high and stick it to big oil. They should have been investing in new, cleaner technologies for ten yrs now. We could have shifted oil workers into these new technologies and saved thousands of jobs and at the same time, started down a road to cleaner air and water. How many times does one need to get kicked in the ass before they realize, gee, why didn't I do this decades ago? Hope Obama inspires us to keep thinking in this way, a future free of oil, it's pollution and our addiction.
We started driving less long before the prices at the pump started falling. Americans drove 9% less in May, for example, but we didn't see price drops until Autumn. I wish this and other articles about gas prices would stop trying to tie them to supply & demand, when it's been long since demonstrated that that has little to do with it. Speculation is far & away the primary reason prices go up and down.
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