Running on Fumes. An enormous spike in gas prices has enticed some to forsake their cars for alternative transportation. [The Motley Fool]
Here’s the thing: For all of the talk of the Saudis increasing supply,
or the junta of this, that, or the other controlling oil prices, until
supply at the refining level exceeds demand, prices will rise. And as
we know, there isn’t any more refining supply coming on line anytime
soon in the U.S. — there hasn’t been any new supply for two decades.
Lots of regrets this summer, I betcha, in garages and carports all over America. (Is there a way to sell used SUVs short?)