NEW YORK - As energy prices surged this month, economists told motorists to brace for the return of $3-a-gallon gas.
But that’s hardly a guarantee, especially after a three-day sell-off that pushed oil and gas prices to their lowest levels of the year.
“If oil prices have peaked, maybe $3 isn’t a foregone conclusion,’’ PFGBest analyst Phil Flynn said.
It's two weeks into the year!
Energy prices rallied this winter as frigid temperatures blanketed parts of the country. China also said last week that it increased oil imports by nearly 14 percent in 2009, fueling expectations that world oil demand will continue to grow. Crude, which jumped to a 15-month high on Monday, tugged retail gas prices higher as well. Pump prices increased again by less than a penny to a new national average of $2.75 a gallon, according to AAA.... 96.7 cents more expensive than a year ago.
And they cal that CHEAP ENERGY as DEMAND has SUNK!
Related: The Slickest Game in Town
No, not the newspapers.
But oil prices started falling this week as temperatures warmed up and China said it would try to cool bank lending.
Where? Not here!
An Energy Information Administration report pushed prices even lower yesterday. The EIA said the nation’s oil supply swelled by 3.7 million barrels last week, above the average for this time of year. Gasoline supplies grew by 3.8 million barrels.
And PRICES STILL WENT UP because YOUR DOLLAR is DROPPING in VALUE and the MSM WON'T TELL YOU, America!
US demand also fell by nearly 1 percentage point from last year, showing the country has an even smaller appetite for energy now than during the recession....
And yet PRICES KEEP GOING UP! What's up with that?
--more--"
And with that cheaper fuel price, WTF?
American Airlines raises bag fees
American Airlines said yesterday it is raising its fees on checked bags to $25 from $20. A second checked bag will cost $35, up from $30. Airlines began instituting checked bag fees in 2008 to help offset soaring fuel costs. They have largely kept the fees in place, even though fuel prices have fallen.
And now they raise them again!
Just ONE MORE REASON to NEVER FLY AGAIN!!!!
And your economy isn't accelerating anytime soon, America.
Third world slave societies never do; just ask Haitians.
IMF chief says Asia leads global recovery
The head of the IMF said China and other developing Asian economies are leading a global recovery that is faster and stronger than expected, but he warned that money rushing into emerging markets could lead to asset bubbles. Dominique Strauss-Kahn, the managing director of the International Monetary Fund, strongly suggested China, India, and other emerging Asian economies were close to returning to their pre-crisis growth rates, while rebounds in the United States, Japan, and other advanced economies remained “sluggish.’’
The rush of money into major emerging markets such as China, Brazil, and Russia reflects investors’ recognition that these economies are growing rapidly."
Yeah, that's not you, America.
