Gas Prices this week

As I am driving across the State of Ohio today, I see gas prices for regular unleaded ranging from $1.67 to $1.79. To be sure, I never dreamed I would see gasoline prices this low again in my lifetime. A couple of questions immediately come to mind, namely, "How long will these low prices last?" and, "How do these low prices effect our nation's resolve to get off foreign oil?"

I suppose that while we are in an economic struggle and recession, the prices may stay low. Also, now that we are hearing of a "global economic slowdown", this could also cause prices to stay low. One never knows with the price of gasoline. I am fearful, however, that these low fuel prices are going to cause Americans to regress to their gas guzzling ways, eschewing the smaller compact vehicles for the big trucks and SUV's once again!

Tell me what you think. Will fuel prices stay at these prices, or are we in for a rude awakening? Also, tell me what the price of gasoline is in your neck of the woods!

Gas and Crude Prices

Today, in central Ohio, regular unleaded is selling for $1.79 a gallon. Personally, I never thought that I would see prices this low and they may fall even lower. With the economy in such turmoil and people cinching their belts and purse strings, demand will lessen further. How low will the price of gasoline fall in the US?

From Alternative and Saving Energy:

"Oil prices sank under 55 dollars a barrel on Tuesday to strike a 21-month low as fresh recession jitters fanned fears about slowing global energy demand, traders said.

On London's InterContinental Exchange (ICE), Brent North Sea crude for delivery in December plunged to 54.92 dollars per barrel -- a level last seen on January 30, 2007. Brent later stood at 55.94 dollar, down 3.14 dollars from Monday.

At the same time, on the New York Mercantile Exchange (NYMEX), light sweet crude for December tumbled to 58.32 dollars, the lowest level since March 21, 2007. The contract was later down 2.91 dollars at 59.50 dollars.

Prices have now shed about 60 percent since scaling historic highs above 147 dollars in July on mounting evidence of slowing global economic growth and energy demand."

While these low prices are great for my wallet, they are not so great for weaning the world off nasty oil. These low prices further compound our cause because of the auto manufacturer crisis. It is like a double whammy. We need oil free vehicles now but low cost gasoline combined with bankrupt manufacturers makes for a grim outlook on the future. I feel that we need a bailout package that forces the major players to produce alternative fuel vehicles.

What is the price of unleaded gas in your neighborhood?

What does Obama's election mean?

Well, I am somewhat surprised that America sent a black, former(?) Muslim to the White House. Personally, I would have felt much more comfortable with Hilary than with Hussein as she represents the devils I know as to the complete unknown, aka Barack Obama.

Nevertheless, if he can avoid being compelled by the Federal Courts to prove his US citizenship, what do you think he will try to do for the nation? Inflammatory campaign rhetoric aside, what will be his primary agenda? The one thing I am sure he will push for is higher personal income taxes, so be prepared to bring home less. Will Obama work with Congress to ease the current financial crunch?

More importantly, will Obama try and wean us from Big Oil and insure that US citizens have an alternative to gasoline combustion engines? Alternatives that do NOT burn oil? Personally, I doubt it and I am prepared for four long years.

Return of cheap gas!

It's Election Day! I hope you made it to the polls.

As I drive around the State of Ohio this week, I notice that gasoline everywhere is now less than two dollars per gallon for regular unleaded. While this is a boon for my personal finances, what does it mean for our efforts to wean off Big Oil?

Will consumers resume their consumption of gasoline and return to their gas guzzling ways? Will shoppers start looking at big trucks and SUV's for the holidays? Will gasoline prices remain at these low levels or will they shoot back up after the elections? Tell me what you think!

BTW - I filled up with e85 today for $1.65 per gallon!