Here we are getting ready for the long weekend. It's Memorial Day weekend! The unofficial start of summer! A long weekend that gives you an extra day to sleep in.
The perfect time for a family gathering or outing. Your chance to see the new Indiana jones movie. Oh yeah, don't forget...you can't have a summer holiday weekend without higher gas prices!
Unfortunately, it's become an American tradition! Yes, just like you can expect the sun to rise each morning over the Atlantic Ocean...you can also expect the cost of filling up our cars and trucks to keep going up. We're told that it's all about supply and demand. It's the summer driving season so gas prices must go up! If that's all that it is, then why doesn't the price of beer go up on weekends...why isn't barbeque sauce prices not moving up? Why isn't a bucket of fried chicken more expensive on the weekend?
It is all supply and demand right?
Truth is, oil price increases are the result of frantic speculation – futures.
Oil is the number one traded commodity. Picture 100% of the global production and/or extraction of oil from the ground. Ten times that… or hundred times that resource changes hands annually on the stock markets of the World.
It’s liquid gold. And like real Gold, if you had to buy solid Gold several times a week, you would be feeling the same pinch in our beloved free market society.
As for the future? Are we screwed?
Yea. Pretty much.
Have a safe Memorial Day weekend. Drive safely – if you can afford to.
Or stay home with your friends and family. Pick some up some yardbird, some ribs and do some grillin' and chillin' at home!
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