Topic: Oil Prices

Ethanol: great politics, ineffective energy

April 5, 2008 |

Corn Ethanol is becoming the Iraq war of energy policy. A policy based on lies, that initially won supporters political advantage, is highly destructive to the US, and ultimately destructive to its supporters when the costly truth becomes widely known.

In 2007, 115 US plants produced 7 billion gallons of Corn Ethanol - the energy equivalent of 132 million barrels of oil using about 15% of corn production. While this sounds large, it is tiny in the context of the US economy. This is equal to only 1.6% of the energy from from oil in 2007 used in the US. But the situation is worse than this because it takes 1 unit of fossil fuel to produce 1.3 units of corn ethanol. The net energy produced was only 0.5% of the energy from from oil - while consuming 15% of the US corn crop!

Vast sums of taxpayer and consumer dollars are funding an ineffective solution to the real problems of global warming and energy independence. While the country does not sufficiently fund what can be real solutions. «Read the rest of this article»

Sections: Opinion, Politics | 3 Comments

Gas prices: Consumers driving the pain

By James Butler | March 26, 2008 |

As of March 24 2008 the cheapest listed price of gasoline available in Clarksville was $3.08 per gallon for regular grade unleaded (courtesy of TennesseeGasPrices.com) with the indication that, for at least the moment, prices can be expected to remain stable. With the price of oil estimated at approximately $101 per barrel at the current moment, one gallon of gasoline costs approximately $2.61 to produce (figures courtesy of Bloomberg MarketData), meaning that there is a 15.26% profit margin being split amongst the relevant parties (and here we thought they were out to get us with unfair profit margins). Unfortunately for the rest of us, prices are likely to continue to increase for the foreseeable future for a variety of reasons which producers are largely powerless to stop. «Read the rest of this article»

Sections: Business, Issues | No Comments

Sticker shock: Regular gas hits $3.07

By Christine Anne Piesyk | February 19, 2008 |

Oil prices reached an all time high today, topping $100 a barrel. It didn’t take long for that price to impact the consumer market: by 7 p.m., a drive northbound on Wilma Rudolph Boulevard showed the price per gallon for regular unleaded hitting a high of $3.07.

Clarksville Online began checking downtown, where prices hovered below that psychological punch of $3.00 a gallon, but once a driver moved from College Street toward St. Bethlehem, the price inched upwards to $3.03, $3.05 and finally topped out at $3.07 just north of I-24. Wal-Mart always discounted gas rested at $2.99, pennies shy of their competition.

We’ve been watching the price of oil and gas for months, noting that the price (for regular) always seemed to stop shy of $3.00 a gallon. Tonight our city joins others around the country in a collective gasp of sticker shock even as executives at places like Exxon are jumping for joy over record setting profits, an announcement that dovetailed neatly with the rising cost per barrel of oil.

If you are driving a Ford Explorer SUV, it will now cost you $69.07 to fill that tank (@$3.07/ gallon). Something to think about.

Sections: Business | No Comments

Presidential nightmare comes at a cost

By Bernie Ellis | November 19, 2007 |

Seven years ago this month, Bush stole his first election with the help of his Daddy’s Supreme Court appointees. In 2004, he accomplished that same feat with the help of his friends who owned the electronic voting machine companies.

Today, though there is no longer a single state where Bush enjoys majority support and his foreign policy failures abound, Bush still claims to have created a robust economy. Let’s look at some comparisons:

• Seven years ago, you could buy a Canadian dollar for $.59 — now it costs you $1.07.
• Then, you could buy a Euro for $.97 — now it costs you $1.43.
• Then, you could pickup a gallon of milk for $2.87 — now the price has risen to around $4.18.
• Then, a gallon of regular gas cost $1.44 — now it’s over $3.00 (and rising fast).

«Read the rest of this article»

Sections: Issues, Opinion, Politics | 2 Comments