Wayne Gerdes explains why 9/11 made him want to drive from Los Angeles, CA, to Bend, OR, on one tank of fuel.
Naval warfare, aerial warfare, logistical warfare, cyber warfare. There are as many ways to wage war as there are stars in the sky, but economic warfare is perhaps one of the most misunderstood. It's rarely as overt as bombing factories or sinking freighters, featuring more subtle, domestic maneuvers.
Gas prices traditionally take a dive come winter, as demand cools faster than the daily temperature and producers switch to the cheaper "winter blend" of gas. That, however, doesn't account for the precipitous fall in prices, with 2014's nationwide average $3.69 high point, to last week's average of just $2.79. In fact, prices are expected to dive even further in the coming weeks.
The good news, for the domestic fossil fuel types, is that US oil production went up. The better news is that more people bought hybrids, plug-ins and high-fuel-economy vehicles, theoretically cutting their gasoline purchases as a result. And yet there remains some bad news for the domestic economy, as average US household spending on gasoline neared record highs last year.
Okay, okay, okay – it's not as bad as that headline says it is. First of all, even if we did only have 53.3 years of oil left, it'd represent a 1.1-percent improvement over last year's estimate, to 1.69 trillion barrels of oil left. But more importantly, we probably have a hell of a lot more oil left than that. Of course, a lot of it comes from shale, which means fracking, which isn't exactly great for the environment. So, it's not all roses here.
At the end of the month, Missouri will begin to allow the sale of the controversial E15 fuel. Currently, most available gasoline is sold as a blend with up to 10 percent ethanol. Missouri will become the 13th state to approve the 15-percent ethanol blend to be sold at the pump.
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