24 Apr '11, 2am

Obama Takes Long View on Rising Gas Prices

Obama Takes Long View on Rising Gas Prices

On April 23, 2008, when the U.S. was on the verge of a record-high gas price of $4.11 per gallon, the average retail price at the pump was $3.60 per gallon. Three years later, the average retail gasoline price is already $3.86 per gallon, according to AAA, and we are still several weeks, if not months, away from the historical gas price peak, which usually hits around Memorial Day and can plateau all summer. What does this mean for the average American? It means not only that gas prices will likely top $4 per gallon, which they've already done in six states including California and New York, it means there is a good chance gas prices will exceed the record-high prices of 2008 and do so even earlier in the summer, likely prompting more utterances of that sugar-coated neologism, "staycation." And it also means that the cost of nearly everything in our fossil fuel-dependent i...

Full article: http://ecopolitology.org/2011/04/23/obama-takes-long-view...

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