Diesel Fuel Surpasses 6 Dollars a Gallon in Idaho
Early this week a truck-driving friend told me he saw a price of $6.13 a gallon in Bliss. On Thursday morning he saw $6.25 a gallon in Mountain Home, a spike of seven cents over the previous day. What gives here and what’s going to be the impact? The White House is apparently floating a plan but it doesn’t appear to be anything more than a half-hearted effort. You can learn more by clicking on this link.
In a previous post, I shared a link about the worst-case scenario. That would be 10 dollars a gallon (or, who knows, maybe even more!) This morning I saw a story about the oil market. The Chief Executive Officer at Saudi Aramco suggests a hiccup here or there around the world could send the price of oil skyrocketing again. Oilprice.com reported this week there are predictions a barrel could soon cost anywhere from 120 dollars up to 200 dollars. This isn’t sustainable. Not for the world economy and certainly not for the local economy.
Idaho thrives on diesel. It powers the tractors in the fields and the heavy equipment on construction sites. As I warned a few weeks ago, it also fuels the trucks and trains that being goods to our store shelves. It could significantly reduce items on the shelves or make the current price inflation look appealing.
I don’t see much urgency on the part of the government. The new House Republican majority in Washington has made possibly corrupt Hunter and Joe Biden business dealings a priority. I also want answers, but both Congress and the White House need to recognize we’re possibly on the cusp of catastrophe.
Get off the pot and get cracking!
Reduce regulation, permit more drilling on federal lands and give the producers confidence they can put refineries back online without the threat any investment will be all for naught in the rush to green energy.
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