Thursday, January 5, 2012

Paying Too Much For Gas

Atlanta - Georgia Public Service Commissioner Stan Wise requested Tuesday that natural gas marketers file briefs with the commission by Jan. 11. Wise said Georgians paid 37 per cent higher natural gas prices in November 2011 compared to November 2010, but the Wall Street Journal ran an article on Dec. 31, 2011, with the headline "Natural Gas Falls to Two-Year Low."

Also, the U.S. exported more oil-based fuels than it imported in the first nine months making it likely that 2011 will be the first time since 1949 that the nation is a net exporter of such goods, primarily diesel. That's not all.

The U.S. has reversed another decades-long trend. It began producing more crude oil in 2008 than the year before and accelerated that upswing 3% in the first nine months of the year compared with the same period in 2010. That production has helped reduce U.S. imports of crude oil by about 10% since 2006.

By 2011, exports of diesel, gasoline and other products surged. In November and December, U.S. fuel exports averaged between 2.77 million barrels a day and 2.89 million barrels a day, the highest ever.

Meanwhile, U.S. drivers paid an average of about $3.50 a gallon for gasoline during the year, also the highest ever.

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