ATTACK OF THE GAS PRICES

Posted on: Dec 20, 2011 at 04:50
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It's been 30 years since gasoline took such a big bite out of the family budget.

When the gifts from Grandma are unloaded and holiday travel is over, the typical American household will have spent $4,155 filling up this year, a record. That is 8.4 percent of what the median family takes in, the highest share since 1981.

Gas averaged more than $3.50 a gallon this year, another unfortunate record. And next year isn't likely to bring relief.

In the past, high gas prices in the United States have gone hand-in-hand with economic good times, making them less damaging to family finances. Now prices are high despite slow economic growth and weak demand.

That's because demand for crude oil is rising globally, especially in the developing nations of Asia and Latin America. But it puts the squeeze on the U.S., where unemployment is high and many people who have jobs aren't getting raises.

NOTE: Ya think Mr.President that the proposed pipeline from Canada to Tx might be a good idea after all. It would bring thousands of imediate jobs and $15.00 crude into TX. Just a thought.

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