Thursday, May 8, 2008

Is there a ceiling?

Gas jumps nearly 3 cents to record; oil crosses $124
By JOHN WILEN, AP Business Writer
Thu May 8, 2008
NEW YORK - Gasoline and crude oil jumped to new records Thursday, with gas rising 3 cents to an average national price of nearly $3.65 a gallon and oil crossing $124 a barrel for the first time.

Gentle reminder: price of refined fuels impacts the entire economy. Gas, diesel, jet fuel - all contribute to cost of just about everything.

On the bright side: Europe has figured out how to live with what we in America think is extremely expensive gasoline. Maybe we could learn a thing or two from our European friends. Smaller cars. Windfarms. Nuclear energy. All these are common in Europe. How 'bout it? A rational national energy policy, anyone?


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