Fuel Prices Dropping Like A Comet

"Who knew?" Well, there a number of folks that said and always maintained that the recent oil price spike was artificial. And it was.

"Speculators".

The new dirty word in our lexicon. And well earned. This last summer I actually had to pull money form savings (such as it was) to pay fuel and power increases. Anyone on a tight budget knows what I am talking about.

I saw E-85 today at $1.35. Diesel is down to $2.69 in some spots but not nearly where it needs to be. Much less than gasoline where I paid $1.59 a gallon today.

Where are all these dropping fuel prices taking Biodiesel? Out the window I fear.

We need to keep up the research and development of Biodiesel because sure as rain it will spike again.

60 minutes did a spread this evening about Saudi oil. The head of Aramco said their cost of production of a single barrel of oil is $2.00!

The reason they say it needs to be above $50.00 a barrel is so they can pay for their infrastructure. They have no other industry. So clearly, their product is not market driven. They do not know what the meaning of competition is.

We need to give it to them. Competition that is. "But then, here comes Uncle Sam and the States!" People aren't driving as much, so tax revenue is down and we need to consider raising gas taxes.

OK, so government officials tell us to conserve and we do. Buy more fuel efficient cars and car pool and we do. Demand drops and now they are crying because tax revenue is down and government needs more money for roads and bridges.

Does anyone feel like me? Does anyone want to plant a solid punch in the kisser of the next Senator or Congressman that proposes a tax hike on anything?