Tuesday, April 25, 2006

may cheap gas be upon us

OK. I just went to the pump a few minutes ago and the price of gas in my part of the San Francisco Bay area is $3.10 for regular gasoline. This ain’t good, especially as a major expenditure for me (as it is for many priests who go around the parish on ministerial visits) is gasoline.

So, it is somewhat heartening to learn today that things are going to be done. Hopefully, this will curb any price gouging going on out there, if any. Already I have been reading news that crude oil and gasoline futures fell today. Hopefully this will also bring down the price at the pump.

But it’s quite surprising to learn from the news three more interesting tidbits concerning all of this:

Tidbit #1: Exxon had $36 billion in profits last year and gave a $400 million retirement package to ex-chief Lee Raymond.

Tidbit #2: NO new refineries have been built in 30 years. And this is frequently cited as a reason contributing to soaring gas prices. Why no new refineries??

Tidbit #3: Oil companies have received around $2 billion in tax breaks over 10 years for such things as subsidizing research into deepwater drilling. I have a difficult time comprehending the idea of subsidizing an industry that has been showing record profits.

“Energy experts predict gas prices are going to remain high throughout the summer. And that's going to be a continued strain on the American people," said President Bush.

Well, but there’s a way for you to find where the cheapest gas is being sold in your area. Check out the “GasBuddy” link ["another cheap gas finder"] on the right of this blog in the “Interesting Bits on the Web” section.

Additionally, there is also MSN’s cheap gas finder. It's also pretty good.

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