Daily Commentary – Wednesday, January 20, 2016 – The Price of Gas Has Fallen Along With the Cost of a Barrell of Oil

• In some areas of Michigan it’s been as low as 47 cents per gallon. That’s 1/2 of what it is in Canada and 1/6 of what it is in Southern California. There is a glut of oil on the market

Daily Commentary – Wednesday, January 20, 2016 Download

Gas Prices Hit a Stunning Low of 47 Cents per Gallon in Michigan on Sunday

WOW, 47 CENTS A GALLON … WELL ACTUALLY 47.9 CENTS.

Gas prices hit an amazing low of 47 cents a gallon in as a price war broke out between three gas stations in in Houghton Lake, Michigan. I cannot even remember when gas prices were that low. You could imagine the reaction by Americans when they saw prices fall to such a low price. Could you imagine being able to fill your car up from with an empty tank for less than $9.00? Of course these low gas prices and cost for barrels of oil are having other adverse affects on our economy.

ABC NEWS:

The price of gas hit a stunning low — just 47 cents per gallon — in Michigan on Sunday.

Michigan was the first state to have gas under $1 in likely over a decade, Patrick DeHaan, senior petroleum analyst at GasBuddy.com, told ABC News today.

A gas station in Houghton Lake, Michigan, hit the 47 cents mark after a price war between three stations in the town, DeHaan said.

GasBuddy.com’s data goes back to 2000 and DeHaan said he couldn’t find any other averages that low in the U.S.

“This is something we don’t see often at all or ever,” DeHann said. “That’s unheard of.”

DeHann said he believed the next lowest price in the country was about $1.29, at a station in Virginia.

This 4th of July Gas Prices Climb to the Highest in 6 Years Since 2008

Thanks Barack, as Americans are squeezed at the pump this 4th of July.

The current national average price of gas is 23 cents per gallon more expensive than it was on the Fourth of July last year, the highest since 2008. Can no one see the parallel and irony that on this 4th of July gas prices will be at a six year high due dependence on foreign oil and the turmoil and unrest in the Middle East and American Independence Day? When will the United States begin an energy policy in this country of  “energy” independence, instead of a war on oil, coal and any other form of energy that the Obama administration does not deem “green”?

Gas prices are expected to be at the highest level in six years for the Fourth of July holiday. Yes, the gas prices are set to raise on national independence day.

Regular gasoline peaked at a national average of $3.98 a gallon in early May. The current national average price of gas is 23 cents per gallon more expensive than it was on the Fourth of July last year. The highest was seen in 2008. The highest record was $4.11 a gallon in 2008.

“We’re going to see the highest July 4th prices since 2008, and we probably wouldn’t have, if it weren’t for Iraq,” said Tom Kloza, chief oil analyst at GasBuddy.com. “I certainly would not rule out if something happens near Basra or south of Baghdad, we would see national prices make a pass at $4…but I just don’t see a fuel apocalypse in North America this year.”

“Although gas prices in the Southeast remained relatively stable from last week, it wouldn’t be surprising to see gas prices inch up slightly before the holiday weekend,” said Jessica Brady, AAA spokeswoman with The Auto Club Group. “Even though pump prices are higher than they were this time last year, they are not expected to deter holiday travelers.”

Gas prices used to depreciate in the upcoming weeks of the holiday in previous years, but that’s not the case this summer.

AAA Travel reports the statewide average price of gas is $3.71 for a gallon of regular unleaded. It was $3.48 last year on the Fourth.

Ooops … Federal Govt Study Concludes Biofuels From Corn Waste Not Better Than Gas

It’s settled science … bio-fuels made from corn worse than gas in emitting greenhouse gases …

What say you Barack Obama, Al Gore and the rest? According to a federal government paid for study, bio-fuels made from leftovers of harvested corn plants release 7% more greenhouse gases as compared to conventional, evil gasoline. Let me repeat that, this was a paid for federal government study. So not only are we creating a fuel that is more harmful, as they say, to the environment, they are taking the food source away from human and animal usage.

Biofuels made from the leftovers of harvested corn plants are worse than gasoline for global warming in the short term, a study shows, challenging the Obama administration’s conclusions that they are a much cleaner oil alternative and will help combat climate change.

A $500,000 study paid for by the federal government and released Sunday in the peer-reviewed journal Nature Climate Change concludes that biofuels made with corn residue release 7 percent more greenhouse gases in the early years compared with conventional gasoline.

While biofuels are better in the long run, the study says they won’t meet a standard set in a 2007 energy law to qualify as renewable fuel.

If I build subsidies it, it will fail …

Hate it when that happens, eh environmental wackos? Here comes the priceless part, the LEFT and Obama admin officials is criticizing the study as flawed. HAHAHA!!! What’s the matter, don’t like it when the results that you paid for don’t fit your liberal agenda? These are the people that demonize those that do not believe that man is responsible for global warming, oh sorry what do they call it these days, climate change.

The conclusions deal a blow to what are known as cellulosic biofuels, which have received more than a billion dollars in federal support but have struggled to meet volume targets mandated by law. About half of the initial market in cellulosics is expected to be derived from corn residue.

The biofuel industry and administration officials immediately criticized the research as flawed. They said it was too simplistic in its analysis of carbon loss from soil, which can vary over a single field, and vastly overestimated how much residue farmers actually would remove once the market gets underway.

It’s Final — Corn Ethanol Is Of No Use.

OK, can we please stop pretending biofuel made from corn is helping the planet and the environment? With huge subsidies for ethanol in gasoline, with all States now selling gasoline having some ethanol blend, and a general misconception that these biofuels are green, corn ethanol has taken on a $30 billion/yr life of its own.

The United Nations Intergovernmental Panel on Climate Change released two of its Working Group reports at the end of last month (WGI and WGIII), and their short discussion of biofuels has ignited a fierce debate as to whether they’re of any environmental benefit at all.

Daily Commentary – Friday, February 14, 2014 – Gas Station in Woodstock Illinois Becomes Most Popular

• When glitch in the system drops gas to one penny per gallon

Daily Commentary – Friday, February 14, 2014 Download