Average gasoline prices have risen by 17 cents in July. And, given yesterday’s fire at a Chevron refinery in California, prices will rise even further. Most will blame “big oil” (don’t you just love it that “someone” must be blamed for everything in this country). Before you do so, read on. Read more
It may seem simplistic, but wouldn’t measuring they buying power of your salary (or what’s left of it) in terms of gallons of fuel per hour make a certain amount of sense?
Think about it: it will make the effects of increasing fuel prices something directly relevant to everyone except the minority of people that don’t own cars (perhaps they can use some measure like Starbucks lattes per hour!), using terms that are more universally understandable than dollars per barrel or consumer price and inflation indices, the ups and downs of the stock market or other even more ethereal measures of the effects of rocketing fuel prices.
It will link the price of oil (which is still the lifeblood of our economy) to stagnating (or worse, decreasing) salaries, the relative ability of people to get around and the general importance of petroleum to our economy and our lives. In other words, it will tell you how much you have to work to get to and from work, as well as do all the other things you need to do involving transportation. It will tell you how many hours you will have to work to buy heating oil if you use it (there should be an equivalency for natural gas, propane and electric). It will also tell you what you will have left after buying fuel. It will tell you just how much you will have left of your fixed income every month. It will help you predict how far your 401K or IRA will go. It will tell you what effects inflation is having on your buying power. Best of all: it will ram home the fact that the economically vacant policies of this administration and Democrats in general are destroying middle income America (which “Slow” Joe Biden is hard at work projecting on the Republican candidates) and obliterating the poor.
Even the “dreaded 1%” will care, as even though they make enough to have it not really affect them on a personal basis, the fact that the businesses etc. that they may own or invest in will have to raise prices or reduce returns on investment based on the number of gallon per hour they spend vs. gallons per hour they take in.
The bottom line is that you will easily be able to judge your current buying power and compare it with previous years, or better, previous administrations, i.e. you got twice as many gallons per hour (or had to work half as much) during the bulk of the Bush years than you do for the bulk of the Øbama years.
The automobile is the means for us to go where we want, do what we want, work where we want and live where we want. Gallons per hour is a measure of the amount of personal freedom left to us, or better, one measure of the personal freedom that is being taken away from us.
With the price of gasoline rising by the day, the President has a problem. People perceive that he can, and should do something about it…now. Expect to hear the following in the coming months. Read more
Admittedly, I’ve given away the answer because of the image to the left of this post, but, let me explain their rationale. Read more
Gasoline prices are now approaching $4 per gallon, and, in some states they already exceed that amount. We know about the drilling moratorium that still seems to be in place in the Gulf of Mexico, in spite of the fact that it is almost one year after the Deep Water Horizon oil spill. We know that Federal Judge Feldman told the federal government to start issuing permits for drilling in the Gulf of Mexico, but, the Obama administration is still “working” on the issue. Read more
I must say I am not sure I believe the dire predictions but these days anything is possible, as long as the government continue to stick it’s regulatory nose into places it doesn’t belong. And no, my little lefties, more government regulation or even higher taxes won’t solve this problem. Read more