Gas Prices...More

Today's Indy Star takes off on gas prices similar to my rants from yesterday.  (HT: Carol Platt Liebeau).  They make several points similar to mine:

Pump prices are high because of a little thing called supply and demand. Americans may complain about higher prices, but they've not changed their driving habits enough to make a difference. Economic growth also often leads to higher energy costs (again, it's the old supply-and-demand thing), and the U.S. economy is humming along nicely. Growth in China and other parts of Asia also is pushing up demand in the world's oil markets.

How about supply? It's not a case of running out of oil, but it is a matter of where we obtain it. Political uncertainty in Iran, Iraq and Venezuela poses a threat to supply, driving up the cost of a barrel of crude.

A lack of domestic production and a shortage of refineries also mean that gas stations are posting higher numbers on their signs.

Just maybe, if it's in print enough, some people might understand the economics behind what all is going on.

-Colonel Steve