Price Of Gasoline

Gas prices jumped $.17 in the past two weeks. This coming at a time when gas is up $.40 from a year ago. A summer in which gas was well over $3. Which was already up some 40% from the year before.

I agree that a part of our dependence on oil is how cheap it has been for Americans. I have abused it just like most Americans, but the rate of the increase in the average price per gallon is more than 50% in the last two years. Profits for Exxon Mobile rose 44% in the fourth quarter, 42% for the year, for a total of $36.13 billion for the year.

And we wonder why we haven't seen REAL alternative fuels. Hybrids and the new E85 ethanol based vehicles from GM, still require gasoline. Why can't we use ethanol in hybrids? Wouldn't that be the quickest and best solution to our dependency on foreign oil? Why, because big oil won't let that happen!