What do you think that means this summer when the federal government forces oil companies to change the formulations, causing a change in supply as they must phase out the winter formulations to begin producing the summer formulations while minimizing waste. What do you think that means when we hit the peak driving season when families get in the car and go on vacations? I think we are looking at a situation much more dire than in 2008 when $4 a gallon kept many people home and slowed down automobile sales leaving trucks and SUVs on the lots. I wonder if the weak economy can take this hit.
Oil prices are already over $100 a barrel now. Like I said, we aren't even to peak driving season. Here's what I think it means.
$5 a gallon.
Can you imagine what that is going to do to food prices? Can you imagine what that's going to do for seasonal jobs?
Once again, we see the United States remains a hostage to foreign oil. Rather than pursuing our own oil to offset the limits of supply, we are too worried about the environment to ensure our economy allows affordable fuel which helps maintain prices across the board. I fear we are about to see the train wreck.
