The Price of Gas in Idaho is About to Break Record Highs

If you think the price is high today, you haven’t seen anything yet.  The Wall Street Journal reports that oil stores worldwide are about to run out of oil.  I would link to the latest, but it’s behind a paywall.  Even if there’s a quick end to the war with Iran, which seems unlikely, the crisis will uncoil through the summer and maybe even into winter.  I passed a pump in the early hours of the morning, I’m writing this, and regular was 4.56 a gallon (rounding up a tenth of a penny).  That’s among the cheapest costs in Twin Falls.  We’re nowhere near a historic high when you factor in inflation and real dollar terms, but we could get close in a matter of weeks.

Truck Drivers and Door Dashers Face a Dilemma

The people who’ll struggle the most are your neighbors who drive for a living or have a long commute between home and work.  A writer at a history website says you can tie most oil volatility over the last 50-plus years to the Middle East.  Before 1970, the market was determined domestically, primarily in Texas.

Energy Attitudes on the Left are Going to Be Sorely Tested

I used to believe that a lot of the green opposition to domestic oil drilling, pipeline construction, and exploration would quickly fade with a whopping shortage and price increase.  My theory is about to be put to the test.  Liberals buy petroleum products, too.  A crisis of a long duration may also spur an all of the above energy strategy.