Price of Gas

There's a lot of chatter on CNN this morning here in my hotel room about the price of gasoline and where it's going. The ticker heading says: Cheaaper gas in 30 days? A couple of weeks ago, I caught the wild chatter on NPR about a $10 or so jump in the cost of a barrel of oil. They were squealing about how totally unprecedented such a high jump in one day was and warning that within 10 days gasoline prices would jump 50 cents a gallon.

All you need to know about the price of gas can be boiled down to this simple economic point: Producers use current events to let per gallon cost run up to the price where people begin to seriously cut back on use. Bingo. The magic number is reached.

All the talk about regulations and increased or decreased production is just talk.

Check me to see if I'm wrong.