Why Gas Prices Are High

Chmee · Post by **Chmee** » March 23, 2004, 3:09 pm

Lynne Kiesling (economist that specializes in energy issues) has a good overview on her blog about the reasons behind the current high price of gas.

http://www.knowledgeproblem.com/archives/000748.html

Voronwë · Post by **Voronwë** » March 23, 2004, 5:36 pm

one interesting thing i heard on-air was that the US was also purchasing massive amounts of petroleum.

why do you think the US Dept of Energy was buying oil for the Emergency Petroleum Reserves at these extremely high prices? (dont think it was because our reserves were particularly depleted).

Purchasing in such volumes as to actually effect the prices such that they increase more.

I'm not trying to ask loaded questions, but the Congress wants to know too!

Deward · Post by **Deward** » March 24, 2004, 11:08 am

Gas prices were a big reason I moved to a smaller town. At my old job I would have had a 45 minute commute daily. Now I can walk or ride my motorcycle. We still don't have it nearly as bad as Europe but it will get worse before it gets better.