The Finch Formerly Known As Gold

25 October 2005

Aw, shucks, it's back to $2.05

A reminder from McGehee:

Strategic resource or not, the oil industry is not a public utility. Supply and demand ought to be allowed to operate just as it would in the snack cake industry. Those who want to bring a final end to our dependence on fossil fuels ought to have faith that if supply and demand make fossil fuels no longer economically feasible, alternatives will become available; thus they ought to be perfectly okay with high prices for petroleum-based fuels. And if I were CEO of Conoco-Phillips or BP-Amoco or any of the other oil companies, I'd already be funding research into alternatives. You can't patent gasoline, but a viable gasoline substitute?

(1) Have you seen the prices of snack cakes lately?

(2) Alternatives will suddenly appear at the exact point where they're price-competitive with our old-tech stuff; if there's a stumbling block, it's with the fact that we don't have much of an infrastructure to deal with alt-fuels. (How will we know when the fuel cell has been accepted by the marketplace? When there's a hydrogen-dispensing unit at 7-Eleven.)

(3) It's a shame Scotty never finished up that second transporter.

Posted at 7:50 AM to Family Joules


According to Gasbuddy.com it's BELOW $2 ($1.999 to be exact) at I-40 and MLK.


Hallelujah!

Posted by: Bobbert at 9:44 AM on 25 October 2005

Remind me to check the price of diesel. It's stubbornly stayed up there while gas prices were in free-fall.

Posted by: CGHill at 10:21 AM on 25 October 2005

At least in these parts, diesel normally holds a little above at least two grades of gasoline -- which means if it's lower than gasoline you can pretty well bet gas will eventually go down.

Unless diesel goes up...

Posted by: McGehee at 9:24 AM on 27 October 2005

Right now, while 87-octane unleaded is below $2.10 at many locations around town, diesel is holding stubbornly at the $3 mark. I'm guessing this has something to do with regional changeovers to heating oil.

Posted by: CGHill at 9:44 AM on 27 October 2005

Ah. Well, heating oil demand wouldn't be a factor here -- it's either natural gas or electric in this market.

Posted by: McGehee at 9:47 AM on 27 October 2005