One Brick Short

OK, I don’t get it.

The gas pump prices keep rising, three to five cents a week, and are quickly approaching $2 a gallon for the watered-down dinosaur juice. Oil prices, however, have dipped and dropped, so what gives?

According to the Associated Press, “light, sweet crude for March delivery was unchanged at $40.32 a barrel by midday in Europe in electronic trading on the New York Mercantile Exchange. The contract overnight dropped 46 cents to settle at $40.32.“

In other words, prices for crude—an increase of which gasoline weasels used as an excuse to raise the prices to $4 a gallon before the election, just before dropping it to $1.40 immediately prior to the elections—are down. Prices, are not.

According to the AP, “U.S. crude inventories have soared over the last month or so, as massive layoffs further depress the economy and undermine demand for gasoline. Oil inventories jumped 7.2 million barrels from the previous week to 346.1 million, according to an Energy Information Administration report on Wednesday. Crude supplies are running at a surplus of 50.3 million barrels from the same period last year.“

In other words, supply is up and demand is down. Adam Smith believed that, the more demand, the more the cost. The less demand and the more supply, the lower the cost. Prices, however, are steadily creeping upward. Why?

Where is the outrage in the media? Where is the rebellion at the pump? Maybe the weasels are gassing up while we’re too busy trying to understand all the hoopla and discontent in Washington DC regarding the 9 bagazillion dollar stimulus package or while we’re too concerned with keeping our job.

Something’s not right. I’m afraid it may be our economy.

I’m in fear that it may be our future.