Bend Over for 'Big' Oil
On Wed, 30 May 2007 06:36:30 -0400, HK wrote:
GALLUP NEWS SERVICE
PRINCETON, NJ -- The latest Gallup panel survey finds the public bracing
for continued rising gas prices this summer. A majority of poll
respondents expect gas prices to reach the $4.00 per gallon level in
their local area this summer, though only a small minority expects it to
reach the $5.00 mark. Roughly two in three Americans say they have
already been affected financially in some meaningful way by the high gas
prices. The public most often mentions oil company greed as the reason
for the high gas prices, though it also mentions other more practical
reasons such as problems with refineries.
People may say they are affected financially by the high price of gas
but judging from the traffic around here and the type of cars in that
traffic, they haven't actually started using any less.
How high will gas have to go before people start using less? $5/gal?
$6/gal? Whatever that price is, the law of supply and demand says
that's where it should be. Right now, we're getting a bargain.
Steve
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