As we've been reporting, demand for ethanol has been extremely high this year. The cause is not just due to consumer demand but government mandates to double the ethanol supply by 2015 and to replace MTBE, a petroleum additive. According to analyst Tom Kloza, the demand adds as much as 30 cents per gallon of gasoline.
The usual suspects were all present this week - fear and uncertainty over the possibility of military action in
Iran, civil unrest in Nigeria, and the seemingly inelastic and insatiable demand for energy 'round the world - and oil
ended up setting record highs nearly every day this week. Friday's market close saw the black bubbly stuff top the $75
mark, topping off a five-day increase of 8.4%. As many are quick to point out, prices are still 20% lower than those of
1980 when adjusted for inflati
It may come as a bit of a surprise, but some of us here at Autoblog just don't fill up all that often.
Imagine, then, our surprise when the gas pump spit out a receipt for a bit more than $82 after our last fill-up of
the Autoblog Garage's parts-running truck. If this keeps up, we'll be changing our name to Pedalblog.