It's one of the worst things that could happen to our economy. Wealthy and many middle class families won't have a problem paying $75 more a week for gas, working poor families and lower class it will hurt very much and will have people voting for change. Definitely nothing to applaud. The working poor aren't buying Teslas.
Nor are they buying king cab diesel trucks. Really the American (sort of) made vehicles aren't made for people without piles of money and good credit anymore.
The thing this whole economy depends on is oil. It even replaced the coal power it had running the mills with oil power since the days of J.D.Rockefeller? Standard Oil, anyway./Sorry offtopic again /
Curious, or maybe I've missed something. Where did you see heating bills were going to go up 35% over last years?
Crude oil prices are up by 54.23%, just since January '21. CNBC, Bloomberg Financial, FOX Business all report the true inflation rate today is more than 7%. The government figure is 2%, but doesn't include food or energy. Gas at the pump has increased by more than 33%. And the government will need to print more money due to the pandemic and other increased spending this year. Although more jobs were created in the recent report, unemployment numbers were up as well.
SNIP...
I used to think along those lines. Since then though, the realities became apparent showing that's not a real good idea. Long list of reasons, but you could start with fuel degradation over a few months, the cost to deliver the fuel to your private tank (or doing it on your own in a safe manner), insurance (can you imagine what your insurance company might do if they knew you were storing fuel like that?), the cost of the tank, permits, etc. Great idea, but I'm afraid it doesn't work well in practice. It would be nice if these companies could do a little better averaging their prices a bit. And the excuses they use to justify increases are just silly most of the time.
Adding to the above numbers.
www.wsj.com
www.cnbc.com
