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    Saturday, July 20, 2024

    Gas prices and the blame game

    The USA’s average price of gasoline is $3.74 a gallon. The highest price is in California at $4.80. The country with the lowest price of gasoline per gallon is Iran at $1.96. Venezuela is second. The world’s highest price is in Hong Kong at $11.43 a gallon. In Iceland, they’re paying $9.41 a gallon. Our neighbor Canada pays $5.14 a gallon and Mexico $5.17.

    The U.S. produces more oil than any other nation at 14.7%. Saudi Arabia 13.2%, Russia 12.7%, Canada 5.6%. OPEC, primarily a Middle Eastern corporation, supplies 40% of the world’s oil. But as the conflict in the Middle East grows, prices will rise, while OPEC’s shipments decrease. But Venezuela, and Ecuador, both from South America, are in OPEC, possibly re-asserting roles.

    Recently, the prices of electric vehicles are below gas vehicle prices. Also, they’re cheaper to insure. Trump says, “drill, baby, drill.” But drilling in remote and protected areas would be extremely difficult, destructive, dangerous and expensive. Also, could the U.S.’s depleted infrastructure handle it? The blame game has everyone pointing fingers. So, when voting, remember it’s not as simple as it seems. Necessity makes changes in the world’s energy supplies, and the world’s oil monopoly implodes.

    Steven A. Birt

    Groton

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