As you may have noticed recently at the pump gasoling prices have dropped sharply. Forbes.com explains that a drop in price is normal this time of year. However this kind of rapid decline in price is not. The cause they claim has to do with easing concerns of hurricanes hitting pipelines as well as Iran's possible stoppage of it's uranium enrichment. Forbes article misses another big piece of the puzzle: Chevron's recent discovery of a big oil reserve in the Gulf of Mexico. I hope that discoveries such as these will keep the price stable until we can ween ourselves off the need for gasoline. Then we can tell all these countries to stuff it.
1 comment:
In Iowa. Where the corn grows. The corn used for the nation's ethanol. Also where the presidential elections are decided.
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