Time for some comedic relief. On my main site “One-Twenty Two” I posted my own satirical commentary on the recent announcement from Attorney General Eric Holder about the formation of the Oil and Gas Fraud Working Group. This taskforce is supposed to ensure prices properly reflect “real” supply and demand factors from the marketplace. In my post, I ponder what the story would look like if Holder decided to go after the Federal Reserve’s role in generating higher oil and gas prices (mainly through killing the U.S. dollar). Click here to read it.
With crude oil prices rapidly approaching $80 per barrel, expect gasoline prices at the pump to increase. In fact, it’s already happening in some locations:
- “Gas prices up 4 cents in Texas”
- “Gas prices on the rise again” (New Orleans)
- “A big bump in gas prices” (Omaha)
- “Area gas prices increase 15 cents” (Lansing, Mich.)
- “Gas prices show 1st rise in 8 weeks”