At the beginning of the week, AP offered an explanation of why gas prices were inching up even as oil prices appeared to be dropping (main reason: reliance on overseas crude). Another reason gas prices might go up: increased demand. It's not a big surge, but the Wall Street Journal reports we're getting piggish again, with demand inching up above last year's levels for the first time in a while.
Now I want to say, "People! Have you forgotten last July already? $4 a gallon?" But WSJ points out the demand increase is tiny and cites an energy analyst (Tom Bentz, BNP Paribas Commodity Futures, New York) who says "A return to $4 a gallon is probably not something we're going to see anytime soon."
Well, far be it from me to stoke fear and pessimism in the midst of a recession.
But near be it to me remind you that conservation is a good idea, no matter what numbers go up on the big green BP sign. Spring is coming: put down the keys, wire that basket onto your bike, and ride to the grocery store. Parents, park your teens' jalopies and tell them they can walk the mile to school. Spend your money on something that will last, like a nice windmill for your house.
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