DEC 2019 |
LOG CABIN CHRONICLES | UPDATED DAILY |
Frank Bernheisel: The View From Here |
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Posted
6.13.22 Just Outside Washington FRANK BERNHEISEL
GASOLINE HYSTERIA
Today is Sunday and Kathy and I spent a good deal of the morning
enjoying a nice breakfast and the Sunday papers, the New York Times and
the Washington Post. This morning both papers added to the hysteria
about high gas prices that we have been hearing about all week on radio
(yes, I still listen to radio), the internet and TV.
If they all are not blaming President Biden directly, they imply that is
the case. Some people are direct in their blame, example: Republican
Rep. Jim Jordan of Ohio blamed Biden for the rising prices in gas in a
tweet Monday, noting that the average gas price increased by 86 cents
per gallon from June 2020 to June 2021 and pointed at "President Biden's
economy!" to explain the difference in cost.
Kathy used to work at the Energy Information Agency (EIA), which track
all kinds of energy data including gas and oil prices and publishes
comprehensive reports on each type. This data and these reports are
available on their website. https://www.eia.gov/ There is more
information there than any of us want to spend the time to absorb.
However, the headline of the lead article today is: "EIA expects high
refinery margins to contribute to increasing fuel production this
summer". This ties into the recommended video below.
Periodically Kathy gets together with a number of women from EIA who
were and are the backbone of EIA and key to producing the data and
report. In this week's get together, Stacy, who is still working at
EIA, mentioned that this video https://youtu.be/QnBqAzJXVGo presents a
good summery of pricing in the oil and gasoline industry, and it is
funny.
Worth the time, 23 minutes (it has a button to skip the ads) to watch.
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