Electric vehicles are becoming a larger share of the U.S. car market, pushed both by consumer demand and federal policy changes. #NewsyInTheLoop shares why more people are going electric and the obstacles some automakers and potential buyers are seeing along the way.It certainly convinced my daughter. She saw $6/gallon gas in Hollywood last fall and decided to buy an EV. I approve.
The response by Congressional Democrats like Chuck Schumer is a continuation of what I described last month.
PBS is showing both sides trying to score political points, Democrats against big corporations and Republicans against environmental regulation. It's no surprise that I'm on the Democrats' side on this. However, if CNBC is correct about gasoline and diesel retailers being reluctant about lowering prices at the pump so that they can recoup losses incurred on the way up, then gas station owners are to blame for the continued high cost of fuel. That would mean beating up on local small businesses. I don't think that would play well for either party's politicians, who would rather be seen as defending the public against big business or "big government."WXYZ examines the role of gas station owners in actually trying to keep prices down in Stations say they are losing money as gas hits record prices in Michigan.
We are not trying to get into the Guinness Book of World Records, but here we are paying a record $4.32 a gallon in Michigan for gas. AAA reports prices in Michigan hit a new high on May 9.Gas retailers should be selling regular at $4.45 to break even, so they're selling at a loss to keep customers coming in. That's the good news. The bad news is they will keep the price of gas high once crude oil and wholesale gas prices start falling in late July and August. WDIV looks at that price trajectory and the reasons behind it in Michigan gas prices hit new record high.
Help Me Hank is on the mission to figure out why gas prices are soaring.I'm not surprised.
The other is increased demand in the face of lower supply, something I've worried about for a while, most recently in Oil falls below $0.00 for the first time ever, when I wrote "the collapse in oil prices will lead to oil company bankruptcies, which will decrease competition and lead to higher prices in the future." Those higher prices because of decreased competition and restrained supply have arrived and I think they will last at least until next year. Get used to them.I agree that $5.00/gallon regular gasoline is coming to Michigan by Memorial Day. I'm glad I drive a Prius.
By the way, high gas prices have increased reader interest in a decade-old post with a catchy title, Hard times plus rising gas prices equals gas thefts. That's because gas thefts are becoming a big problem again. Maybe I should write about it. Stay tuned.