Why is Gas Going Higher? Or, Suck it up America!

With the “drill baby drill” boom in America and a historic low in oil imports the price of gas should be going down, if you think logically. But it is going up. And there is a good reason for that: China. And possibly a few other growing economies. The simple answer is “supply and demand.” The supply is up by something in the range of 3% while the demand is up by around 7%. Not in America by the way. We are using less due to greater efficiency but the world use is way up. Therefore demand is up for crude and refined products and therefore our gas prices are up.

Want to bitch at someone? Bitch at the global oil companies who (remember, companies are people) sell to global markets. They charge what the market will bear and sell where they can get the most profit.

Suck it up America. We are owned by the gigantic corporations of the world. They Own Us. The Supreme Court said it, I believe it and that is the end of it.

Some statistics: http://oilprice.com/Energy/Gas-Prices/Why-Despite-the-Boom-in-Oil-Production-are-Gasoline-Prices-Still-High.html

Image: http://onyoursidedebtrelief.com/wp-content/uploads/2012/09/high-gas-prices.jpg