Gas prices could go up soon
One of the many ramifications of the Russian-Georgian conflict could be higher gas prices, according to a sidebar that ran with an AP story in today's paper.
"Oil traders on Monday shrugged off Russia's widening invasion of neighboring Georgia, but if the conflict spreads further it could threaten nearly 1 million barrels per day of needed global crude supplies from the Caspian Sea, most of it bound for Europe," the sidebar says.
For the past month crude oil prices have been falling and so have gasoline prices. But watch out because the slightest hint of a threat can send the price of crude through the roof. And gas prices always seem to rise quicker than they drop.
Find the best gas prices near you using this MSN map which is based on prices from more than 90,000 gas stations across the nation. And don't wait too long to fill up!
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About The Bargain Hunter
Daily News staff writer Julia Scott loves to find bargains on everything from groceries to Gucci. Her tips will help keep your hard earned cash where it belongs - in your pocket.
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I think it's been obvious from the start that Putin is primarily interested in the oil pipeline in Georgia. This whole issue should be made even more interesting by Bush's posturing against the invasion with his recent comments from the Beijing Olympics. I plan to stay tuned!
We run the risk as a nation of overreacting to gas prices hitting $4.50 a gallon and then pulling back when they go down to $3.50, which might very well happen.
What this country needs is a forward-looking energy policy that takes into account the relative scarcity of fossil fuels along with the risks of global warming.
Regardless of the current swing in the price of gasoline, we need to heavily invest in solar energy, as well as natural gas and wind power. I'm not sure whether or not it's a good idea to go forward with a build-up of nuclear energy, but that should at least be on the table.
What we need are massive investments in public transportation and vehicles large and small with exponential increases in efficiency and decreases in emissions.
If we can occupy a whole Middle-Eastern country for years, we can certainly invest in our nation's survival when it comes to energy and the environment.