Unusually for a spring season, gasoline prices
have been steadily climbing in the US since the beginning of 2011, and have surpassed $4/gallon in many US states, largely due to
political instability in many oil-producing African and Middle-Eastern nations.
"Not so fast," says the Department of Energy. Although the price of crude oil has climbed steadily throughout the year, the price of gasoline has climbed much faster -- a disparity known as the
crack spread, which
has remained at its highest level in 32 months, even in light of a sharp decline in the price of crude oil at the beginning of the month. The DoE speculates that although crude oil is cheap and plentiful enough, the
2011 Misssissippi River Floods are currently more to blame for $4 gas than the uprisings in the Middle East.
posted by schmod
on May 19, 2011 -
125 comments
Real-Time Biological Natural Gas Generation. A research lab has discovered that microbes living in Wyoming's Powder River Basin are generating methane (natural gas) through their natural metabolism of local coal beds. In relation to the many Peak Oil discussions here, could be way to get more energy for the future. (via SpaceDaily.com)
posted by zoogleplex
on Nov 17, 2004 -
22 comments