Tag Archives: Gasoline

President Biden wants Americans to know gas prices are falling fast—and he deserves the credit. The average pump price has plunged from $5 per gallon in June to around $3.25 now. Biden says it’s because he released oil from the national reserve, persuaded petrostates to produce more, and convinced oil and gas companies to lower prices. Nope. The single-biggest reason for falling oil and gas prices is China’s baffling COVID lockdowns. China is the world’s largest energy consumer and… Source link

If President Biden has nightmares, he probably wakes up in the middle of the night terrified of gasoline prices. Rising gas prices — up 50% during the last year to around $3.50 per gallon — compelled Biden to announce the release of 50 million barrels of oil from the U.S. national stockpile on Nov. 23. Before the announcement, crude oil futures traded at around $76 a barrel. After the Biden announcement, crude futures spiked to about $78 a barrel. Whoops. Prices went up rather than down… Source link

The Daily Beast Camping Was So Popular It Became Basic and Nearly Ruined the ‘Outdoors’ Harold M. Lambert/GettyThat children who came of age in the 1960s would come to find liberating and countercultural meanings in camping was not a predictable outcome. Camping in the 1950s was a decidedly mainstream affair. Since the end of World War II it had become a broadly popular choice for the summer family vacation, itself increasingly an expected annual ritual. Families clamored for campsites in… Source link

You still have to pay a couple bucks for a gallon of gas (more in California, as always), but automakers are discovering that gas-powered cars may be a liability that detracts from their valuations, instead of an asset that enhances values. New research from Morgan Stanley argues that traditional internal combustion engines—the mainstay of automobiles for more than a century—are destined to become money-losers as early as 2030. “We believe the market may be ascribing zero (or even… Source link