Gas Prices?

Today, on the radio, it was announced that oil exceeded $140 a barrel, although trading ended at just below that particular watermark, I found myself trying to guess at what that would equate to as a per gallon price, whether I should stop for gas on the way home rather than waiting another day or two to fill up.

The hits, however, weren't to stop there. It was stated then that the President of OPEC announced today that they expect to see oil topping $170 a barrel by the end of the summer. Meanwhile, in response to an impending law suit against OPEC from the US, Libya said that they would cut production.

I had heard estimates that we might see prices in excess of $5 a gallon this summer, but it still just blows my mind that we can continue to see the constant increase of demand with no relief in sight.

Meanwhile, there continues to be rumblings of things like windfall profits taxes and gas tax holidays, things that wouldn't result in any sizable difference in the actual price per gallon.

What's my point? I don't know, I'm just finding myself more and more amazed (if not actually amazed) by each day's news. I keep wondering what's coming next, what new, terrible financial kick to the groin will we experience next? There's clearly no broad sweeping changes that will see a change in the near future, any relief that will save us in the short term, and even if there was, I think we'd all be leery of it, concerned about a potential wolf in sheep's clothing.

As for me, I keep looking at my daily 35 minute commute and wondering if my day could handle a 4 hour round trip on bike.