The price of gas has been all over the news this week.
Here in Chicago, came the milestone that, at more than $4.00 per gallon, the city had the highest price of any city in the nation.
At Hoy, in an analysis of Census data that will run tomorrow, we found that 72 percent of Latinos drove to work in 2009-the highest figure among white, black, Asian and Hispanic drivers in the city.
The citywide figure was 61 percent, just to give you a framework.
President Obama has tried to staunch the political bleeding that has come his way from this issue by calling for Congress to take immediate action to deal with the issue. Talking Points Memo wrote about alternative fuels, The Washington Post talked with disgruntled drivers and Marathon Pundit covered a growing trend of gas siphoning in California.
Meanwhile, our editor Fernando dug up a 2005 GAO report about the factors that influence the retail price of gas.
While I have very much enjoyed previous GAO reports, this one was a tad on the elementary side that was heavy on talk about state and federal taxes on low on a central element in the equation: the seeming insatiable avarice of oil owners for the inky liquid Daniel Yergin aptly called the prize.
In keeping with yesterday’s infographic theme, I’d like to share this piece from Business Insider that neatly illustrates both the price spike in the 15 states hit hardest as well as how the nation’s drivers, myself included, still pay relatively low rates compared to the rest of the world.
Where are we headed with this? Will the increased prices truly lead to changed behavior? What about the whole of peak oil?