When gas prices skyrocketed, our excessive carbon footprint took a step back. Folks flocked to public transportation, rail companies began advertising their fuel efficiency, and traffic got a bit less horrendous.
Then demand dropped too far -- the high price of gas, as well as the generally failing weak economy -- and with the drop in demand, the price at the pump fell back. Good news for drivers, good news for the price of produce and any other goods that get transported (which is, well, everything these days). Gas has dropped so low that Massachusetts is floating a proposal for the highest gasoline tax in the country, $0.52 a gallon.
Well, you'll be delighted (or horrified) to know that cheap gas may once again be a thing of the past. Couple weeks ago, the IHT reported:
From the Indian Ocean to the Gulf of Mexico, giant supertankers brimming with oil are resting at anchor or slowly tracing racetrack patterns at sea, heading nowhere. The ships are marking time, serving as floating oil-storage tanks. The companies and countries leasing them for that purpose have made a simple calculation: The price of oil has fallen so far that it is due for a rise.What a vision! Giant oil tankers, filled with crude, tracing figure eights in the Indian Ocean. Behemoths of the sea, half a million metric tons, floating giants -- and floating bombs and environmental disasters waiting to happen. Bloody boring for the folks working aboard, except if they explode, run ashore, or get taken by pirates. Be even more impressive if they'd finally build those sail-powered oil tankers -- but even the ordinary tankers have fanboys:
Some producing countries are trying to force that rise by using the tankers to withhold oil from the market, while traders are trying to profit by buying oil now to store and sell at a higher price later. Oil storage has become so popular that onshore tank capacity is becoming scarce.
Higher gas prices? Good for us? Terrible news for a weak economy? Great news for new, green jobs?