Sky High

   Once again we hear that gas prices have spiked to their highest levels ever in California. Gasoline in the Golden State now costs on average $4.67 per gallon, and as high as $6.65.

   I'm afraid I don't have much empathy for the Californian driver. Compared to Japan, $4.67 per gallon sounds like a bargain.

   The above picture was taken at my neighborhood "gasoline stand" (gas station) a few days ago. The prices listed are for cash purchases only and converted at today's (admittedly high) rate of 78 yen to the dollar† come to:

Regular   $7.28 per gallon

Premium $7.81 per gallon

Diesel      $6.16 per gallon

†With oil being traded in dollars, you'd think that would bring gasoline prices way down in Japan, but they have remained fairly constant over the years. I believe one reason for this is that since the stalling of Japan's nuclear reactors, the country has had to rely on oil and natural gas imports to fuel its power plants, thus increasing demand domestically and keeping prices high.

Deflation Tied to Palin

   Sarah Palin blamed President Obama in a Facebook post, accusing the administration of deliberately advancing an energy agenda designed to drive up the price of gas.

   "His war on domestic oil and gas exploration and production has caused us pain at the pump, endangered our already sluggish economic recovery, and threatened our national security," the former mayor of Wasilla, Alaska (pop. 10,256) wrote. "Hitting the American people with higher gas prices like this is essentially a hidden tax and a transfer of wealth to foreign regimes who are providing us the energy we refuse to provide for ourselves."

  While the star of a cancelled reality show and "author" of a best-selling ghost written memoir acknowledges that increasing global demand and tensions in the Middle East led to a significant rise in the price of oil, she writes that "the White House stood idly by watching the prices go up and allowing America to remain increasingly dependent on imports from foreign regimes in dangerously unstable parts of the world."

   Palin concludes, "Energy is connected to everything in our economy. Access to affordable and secure energy is key to economic growth, which in turn is key to job growth. Energy is the building block of our economy." In short, the US should, "Drill, baby! Drill!"

   What horseshit!

   Proven oil reserves in America stand at 21 billion barrels, which when weighed against annual consumption of 7.5 billion barrels a year would provide less than three years of increasingly expensive, increasingly difficult to extract oil. True energy security lies not in demagoguery, but in pursuing sound policies that promote conservation, alternative forms of energy, and increased energy efficiency. 

   In related news, Horse Apples Emporium, wholesaler of quality manure since 1968, blamed Palin Thursday for the dramatic drop in the price of crap, claiming the former half-term governor of Alaska had inundated the market with bullshit since her unsuccessful vice presidential run. A spokesman for Horse Apples said, "It hasn't been this bad since the build up to the Iraq War. Gets any worse and we'll have to abandon this shitty business altogether."

   When asked to comment, Palin tweeted, "Thanks, but no thanks."