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| The average price U.S.
drivers paid for gasoline and diesel during 2011 never
fell below $3 per gallon, marking the first time the national
pump price for both transportation fuels topped $3 per
gallon throughout a calendar year. Crude oil, which accounted
for more than 60% of the cost of making the fuels, was
the main reason drivers had to pay more to fill up at
the pump. At the same time, the difference between the
prices of gasoline and diesel reached its widest level
on record due mostly to stronger diesel demand. (read
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In recent days there has been much discussion in
the press about what might happen to gasoline prices
in the coming year.
Cognizant of the fact that retail gasoline is currently
running nearly 30 cents per gallon higher than it
was in January 2008 the year when prices topped out
at a national average of $4.11 and that gasoline futures
have risen by 30 cents a gallon in the last few weeks,
there is reason for concern. Typical of the stories
is one from the Los Angeles Times that quotes Tom
Kloza, long-time chief analyst for the Oil Price Information
Service and the go-to guy when one needs numbers and
forecasts on gasoline prices.
(read
more)
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This past January, many commentators hailed 2011
as the year of the electric car.
But as we approach the end of the year, neither Chevrolet
nor Nissan has sold as many plug-in cars as it had
predicted a year ago it would--due to everything from
the Japanese earthquake and tsunami (Nissan) to overly
optimistic rollout projections (Chevy).
(read
more)
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It’s Friday in the Wall Street Daily Nation.
And that means we’re ditching our regular routine
of commentary-based articles and instead using charts
to present some important investment and economic
insights.
This week we’re tackling the pesky little debate
about Peak Oil and America’s overreliance on
oil imports.
(read
more)
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