The price of gasoline, as we all know, is way too high. I believe that four months ago, the US government put pressure on Big Oil to back off and away from $4 a gallon or risk crashing the economy by Christmas 2011.
Now I read the ultimate kick in the pants in the Sunday Times Union (I'm quoting instead of linking because newspaper links have a sneaky way of vanishing after a few days):
The recession and tepid recovery have tempered America's thirst for gasoline, at the same time that drivers are turning toward more efficient cars. So refiners have sought — and found — eager markets for their fuel elsewhere. The exports, in turn, help prop up gasoline prices here.The newspaper goes on to point out that "A gallon of regular gas now costs, on average, $3.29 nationwide, according to the AAA auto club. A year ago, the average stood at $2.88."
"Instead of that product backing up and depressing prices, it's being sent to other countries," said Tom Kloza, chief oil analyst at the Oil Price Information Service. "It's good news for the refining industries and their workers and the balance of trade and U.S. jobs."
But Kloza predicts the exports could turn into a hot-button issue with drivers next year, if gasoline prices increase.
"The average consumer may think, 'You mean I'm paying $4.25 instead of $3.95 because we're sending it to Brazil or Argentina? To hell with them,'" he said.
That's just great. We're subsidizing the cost of shipping refined gasoline to other countries!
Now that the "cat is out of the bag" let's see what develops...