Need ta drop da price on da go-go juice cuz.
Check it. Florida Drivers Shelling Out Nearly $6 A Gallon At Some Gas Stations.
Try look: “motorists are shelling out $5.89 for a gallon of regular gas at a Shell station in Lake Buena Vista, topping out at $5.99 a gallon for premium.” -CBS Tampa
Check it. Obama Returns to Florida for Campaign Cash, Speech on Energy.
“President Barack Obama is promoting his administration’s energy and economic policies in response to Republican criticism over rising gasoline prices and raising campaign money in the battleground state of Florida today” -Bloomberg
Check it. Money Minute: Can we drill our way to lower gas prices?
“Gas prices are climbing — again. And as they go up, calls are growing in some quarters for more domestic oil drilling.
But can we drill our way to energy independence?
The answer, experts say, is no. And it’s a simple math problem. The United States consumes more than 20% of the world’s oil every year and a similar percentage of natural gas. But we have only about 1.6% of proven oil reserves and only about 3.8% of proven gas reserves.” -LA Times.
Hoa, who mahke da cost?
Try Look: Who’s to blame for rising oil prices? Speculators.
“Oil prices are determined mainly by the combined behavior of oil traders on markets, the most important one being the New York Mercantile Exchange. When traders believe that oil prices will rise, they buy oil futures in the hope of selling them down the road for a profit. Such buying increases oil prices, and, eventually, the price of gasoline, heating oil, and many other products.Oil prices started to rise because traders saw clear signs that the US and global economy were rebounding after the Great Recession, creating more demand for oil. The weakening dollar and fears that Middle East turmoil would disrupt oil supplies have also pushed prices higher.”
“Data released in March 2011 by Bart Chilton, commissioner of the US Commodity Futures Trading Commission, suggest that speculators have increased their positions in energy markets by 64 percent since June 2008. That’s the highest level on record.”
” -The Christian Science Monitor
Trickle up economics
Check it. Oil speculation seen adding $600 to your gas bill.
“Oil market speculation will cost U.S. households more than ever in 2011, a consumer group predicts, and the drain on household incomes will increase unless government rules to curb it are imposed.”
“In 2011 oil prices traded in a range between about $80 and $100 a barrel.
Without speculation, the price of crude oil would instead fall somewhere between $60 and $75 per barrel”, according to the Consumer Federation of America . -CNNMoney