Capitalism?

"When the average price of a gallon of regular gasoline peaked at $3.07 recently, it was partly because the nation's refineries were receiving an estimated 99 cents on each gallon sold. That was more than three times the amount they earned a year ago when regular unleaded was selling for $1.87. Companies that pump oil from the ground swept in an additional 47 cents on each gallon, a 46 percent jump over the same period. If motorists are the big losers in the spectacular run-up in gas prices, the companies that produce the oil and turn it into gasoline are the clear winners."

Wild stuff there. Actually, supply and demand. If this is what they are capable of making, it is our fault for not cutting back on consumption either by moving and heating less or pushing for better technology. If you don't like paying big at the pump, then vote for the folks that will try to help you.
By the way, I don't mean help you by drilling in ANWR. That is a drop in the bucket and wouldn't help us for quite some time. My thinking is that we can always save it until such time as oil is around $300 a barrel. Then we could make the real money and maybe our grandkids would have the money to pay for all the bills we are racking up for them today.

So, conservation one of the ways to go, so says Bush:
"We can all pitch in...by being better conservers of energy. I mean, people just need to recognize that the storms have caused disruption and that if they're able to maybe not drive...on a trip that's not essential, that would be helpful."
Isn't he just so damn eloquent? The question is, does he believe this? His past says no and so have his subordinates:
Dick Cheney - "Conservation may be a sign of personal virtue, but it is not a sufficient basis for a sound, comprehensive energy policy."
Weird huh? Granted, this is an older quote, but which do you think is true. If it is the first, have we just seen the administration flip-flop? Will they admit that their previous statements were mistaken? Doubtful

Here is a take on why we just won' t stop driving and an excerpt:
"Why don't we ratchet down more when fuel prices go up? The rule of thumb in economics is that people react to price increases only when they can turn to substitutes. Raise the price of Ford trucks and sales go way down because you can buy your truck from Chrysler or GM or Toyota instead. Raise the price of gasoline and what are the alternatives...people can't change the type of fuel they put in their cars, and they can't stop going to work. They might take one less driving vacation or check their tire pressure more often when they fill up. But that hardly makes a dent in the total numbers."
...or two:
"Practically speaking, the only hope of changing America's driving habits is a hefty price increase that lasts. For, oh, five years. The data show that after that long, even the response of American drivers to higher prices can be pretty sizable. Five years gives people the time to come up with substitutes. Higher commuting costs over that many years could induce you to buy a smaller car, move closer to work, find a car pool for your kids."

Fun fact of the day: Air Force One used 11,437 gallons of fuel yesterday.

And, yes, in this class I feel okay with blogging. I guess I don't value my health, so be it.

Peace.