Ok I had heard this elsewhere but here is an article
http://worldnetdaily.com/index.php?f...w&pageId=66642
from the article:
"The Goldman Sachs energy analyst whose predictions have fueled worldwide oil price speculation now foresees oil peaking at $200 a barrel, with gasoline rising to $5.75 a gallon before consumption cools enough to lower fuel prices."
Ok I'm confused. I thought the price of gas was dependent on the price of a barrel of oil. In fact over the past two weeks I have heard repeatedly that the price of a barrel of oil is 80% of what controls the price of gas.
I also passed 7th grade math where we learned about multiplying percents etc.
The current price of oil is $137/barrel. The current price of a gallon of gas in Nashville, Tn is $3,89.
If the price of a barrel of oil moved to $200 we'd be talking about a roughly 27% increase.
If the price of a gallon of gas went to $5.75 we'd be talking about a roughly 48% increase.
If the price of a barrel of oil controls the price of a gallon of gas (or is 80% responsible for it) then why is the increase in the price of a gallon of gas ALMOST TWICE as big as the increase in the price of a barrel of oil?
Numbers, unlike politicians, oil executives, and speculators, don't lie!!!!!
