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How Much Is The Price Of Gas Affecting You?
Check out the map below, it shows estimated monthly fuel costs as a percentage of household income:
Source: Oil price Information Service/Wright Express, USA TODAY
For the most part a map is a map is a map. But the reason that this one came to the forefront of the pile on my desk was simple — I had just traveled to a “dark blue†area.
Knott County Kentucky is a beautiful place. It’s located in the Appalachian Mountains just far enough off the beaten path to enjoy some of life’s simpler times (mountain vistas, friendly people, etc).
But on my recent trip there I…
30Jul2008 | Energy and Oil | Comments Off | ContinuedThat Pain You Feel at the Pump is From a Dollar Crisis, Not an Oil Crisis
It’s unfortunate that the U.S. Supreme Court, in its ruling last week that U.S. currency is unfair to the blind, did not make the next logical step and declare it unfair to everyone who buys gasoline.
In their search for explanations as to why oil has surged past $130 per barrel, Washington, Wall Street and the financial media are as clueless as cavemen after a freak summer snowstorm. Despite the head scratching, the blame game is nevertheless in full force.
Speculators and big oil companies are being trotted out as scapegoats, and increased margin requirements and taxes on windfall profits…
29May2008 | Money Morning | Comments Off | Continued
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