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Originally Posted by dlssmith
Hello, if crude was $20 per barrel and gas was $1.25 per gallon just a few short years ago, then why isn't gas $3.75 when crude is now $60?
It's called the market place law of supply and demand. Price goes up, demand goes down. and the reverse happens too. Just remember, there are separate markets for crude oil and fuels.
CNN has to "make" the news if there isn't any to report.
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It just means you will be driving less or you will be driving the same for a LOT more money. Sooner or later we will be running out of crude oil, maybe not in my lifetime, but soon enough that you and I will not be able to afford to fill up our vehicles with gas or diesel.
I said to a professor last July that we would soon see gas prices over $3 a gallon (they we well under $2/gal at the time). He scoffed and said not in this country. It happened about 5 weeks later.
We will see gas prices over $5/gal this summer/fall.
Resources are finite, especially at the profligate rate we waste them.
It has already effected our "national security." Iraq will be known as the First Resource War of the 21st century. There will be more.