April 24, 2006
Gas Prices
- To understand 90% of everything one needs to know about gasoline prices, all one has to do is examine the following chart. Drawn from data secretly compiled by the Energy Information Administration, which I found on the Internet, it shows the price of the four major factors (not O’Reilly Factors, mind you) that actually determine the cost of gasoline: 1) crude oil, 2) taxes, 3) refining, and 4) distribution and marketing.
Read the whole thing.
Economics and Markets Posted by AlexC at April 24, 2006 10:48 PM
Superb! His list of what causes gas prices is comprehensive -- and his take down of Bill O'Reilly makes it sweeter.
In retrospect, the energy bill should have shoveled money to researchers in Alternative fuels. This would have kept them quiet and would have cost a lot less then letting them interfere with markets through mandates.
Posted by: jk at April 25, 2006 10:45 AM | What do you think? [1]