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Practically Speaking

Kyle and her husband moved to Brookfield in 1986. She became active in local politics and started blogging in 2004. Her focus is primarily on local issues but often includes state and national topics, too. Kyle looks at things from the taxpayers' perspective in a creative, yet down to earth way, addressing them from a practical point of view.

Yikes! Oil at $60-something/barrel, Gasoline at $2.69

Energy, McCain 2008, Obama 2008, Politics, THE ECONOMY, TRAVEL

Tuesday I got a tank full of gas for $2.69 a gallon. Sure wish gas prices were that low in August when we went to Yellowstone! Our trip cost us $549 in gasoline for 3,188 miles. If we made that trip now, we would have saved about $200. (Of course, Old Faithful Lodge is now closed for the winter season.)

The U.S dollar ended stronger than usual. One US dollar will now purchase $1.26 in Canada, .62 Pounds, and .78 Euros.  

Oil sunk to the $63 to $69 / barrel range this week. Less than half of what it was priced at its high. Since oil is priced in dollars, the stronger dollar makes the price/barrel go down. OPEC is likely to try tightening the supply in an effort to boost the price.

Wouldn't it be great if OPEC's decrease in production didn't matter?

The Congressional Democrats do not favor domestic drilling. Remember the Trojan Drilling Bill? Obama doesn't either. Republicans and McCain are in favor of drilling more offshore, utilizing oil shale, and "All of the above." Think about that when you hit the voting booth.

 

Post Script: Right on schedule, OPEC agrees sharp output cut  "An emergency OPEC meeting on Friday reached swift agreement to chop production by 1.5 million barrels per day (bpd) in an effort to halt a deep oil price slide." Well, oil priced in the $60s was nice while it lasted.

Please, comment content should relate to the subject of the post. Although I try to respond to many, do not interpret my lack of a response as agreement.

Links: 

 

counter hit xanga

Brookfield7, Fairly Conservative, Betterbrookfield, Jay Weber, Mark Levin,  Vicki Mckenna

 

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