Gasoline consumption falls, but prices remain high
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#1 May 29, 2008
FOREIGN WARS OR DOMESTIC OIL
If the US Government had spent the $9.4 trillion debt stemming from the war in Iraq on domestic oil production from known reserves in the Gulf of Mexico, the Continental Shelf and coal gasification instead of War in Iraq gas would be $2 a gallon or less. America could quit sending billions to countries that sponsor terrorism. And reducing trade imbalance keeps jobs in America. Every billion of trade deficit costs 13,000 jobs.$400 billion for oil last year: do the math.
America has 1/4th the coal on planet earth. South Africa is producing 300,000 barrels of gas and diesel a day from coal. And synthetic fuel from coal is cleaner burning than gas. And it can be produced cheaper than from $100+ a barrel crude oil.
Harness your anger at the pump. Call you're US Senators and demand domestic production in this decade. If you donât raise your voice the oil companies and politicians will assume you are ready to pay even more.
#2 May 31, 2008
The US Department of Energy reports US fuel demand declined 0.7 percent to 20.5 million barrels a day in the four weeks that ended May 23rd.
This is a better measure of how much demand has declined than whatever MasterCard reports.
The bottom line is: people complain a lot, but most people really haven't felt the price increase enough to reduce their consumption. I hope the price goes much, much higher -- that's the only way we'll begin to seriously consider ending this addiction.
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