if anyone has any question about the state of the US economy, they need look no further than the price of gas. since the economy has been in the tank, factories are running at lower capacity, trucks are shipping less stuff and people aren’t going as many places. so, demand for oil and gas is low, which is then reflected in the price.
and to see how MUCH less demand there is, just take a look at the two pics below. i took the first one at the intersection of beverly and la brea, in LA obviously, just tonight, dec. 10. i took the second one on july 11 of this year, when gas prices were probably at or near their peak. if you can’t see the prices, they’re at 1.65 and 4.53, respectively. it’s scary to think how this is a reflection of where our economy is at right now.
the other scary thing, though, is that there’s probably way less pressure for politicians now to ween our country off its oil habit, or for car buyers/makers to rally for more fuel efficient cars. i hope we’re at the point as a country where we know we need to decrease our dependence on (foreign) oil for both national security and environmental reasons, but the cynical side of me is saying that’s just wishful thinking.