The Truth of Rising Gas Prices

Environmental concerns are just the latest in the line of excuses as to why gas prices are hitting new records each day. I've read articles that have stated everything from short supply to weather being the culprits. I'm sure I'm not the only one that is finding it hard to believe that we are suddenly running out of oil. Unless I am horribly wrong, cars that run on alternate fuels were being created years ago and from all reports worked just fine. The reason we are not using these cars now is due to oil companies buying these small, but environmentally safe companies out.

Apparently, there have been quite a large number of accidents in the oil refineries this year. This has decreased the production of gasoline by over half. Maybe I misheard when Hurricane Katrina hit that we had reserves. It has also been stated by our government that oil refineries produce more than is actually needed. If both of these are facts, then we should be fine until production is back up and running. Instead, gas prices are soaring. Since Hurricane Katrina hit, Americans have seen gas prices go up and down by dollars, not cents. I live in North Carolina, so I will use our prices as a comparison. During the hurricane, our prices spiked $3.26 for regular unleaded. During the course of the next two years, I have seen prices drop to $1.98 and average out around $2.30 per gallon. In the past month, prices have risen from $2.70 to $3.05 for regular unleaded. One man is even being sued by the state for selling gas too cheap. I also have the wonderful privilege of living in one of the highest gas tax states.