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Wednesday, May 14, 2008

Money and Markets -- How NOT to Lower Gas Prices

My latest Money and Markets colum is up ...

3 Ways NOT to Lower Gas Prices
by Sean Brodrick
Wednesday, May 14, 2008 7:30 AM
The price of gasoline is soaring — regular gas has hit an average $3.72 nationally according to the Energy Information Administration, and prices have already climbed well beyond $4 a gallon ... [More...]

XX My question is, "will this generate more hate mail than when I suggested we lower the national highway speed limit to 55 mph?" Probably. LOL!

In other news ...


U.S. Foreclosures Rise 65 Percent as Vacated Homes Add to Glut
More than 243,300 properties, or one in every 519 households, were in some stage of foreclosure, the highest monthly total since RealtyTrac, a seller of default data, began statistics in January 2005. Nevada, California and Florida had the highest rates. Filings rose 4 percent from March.

Consumer Prices in U.S. May Have Climbed 0.3% in April, Led by Food, Fuel Prices paid by U.S. consumers probably rose 0.3 percent last month, led by gains in food and fuel costs that indicate inflation isn't cooling as growth slows, economists said before a government report today.


Crude Oil Declines Before Report Forecast to Show U.S. Stockpile Increase Crude oil fell from a record in New York before a report forecast to show that U.S. crude inventories advanced for a fourth week.

U.S. Henry Hub Natural Gas Futures Advance on Enterprise Pipeline Delay U.S. natural gas rose to the highest since December 2005 after Enterprise Products Partners LP delayed resumption of a pipeline.


Thai Rice Export Price Breaches $1,000 a Ton for First Time as Sales Gain The benchmark price for rice exported from Thailand, the world's biggest supplier, breached $1,000 a metric ton for the first time today as importers rushed to secure supplies, heightening concern about a global food crisis.

World Bank `Destroyed Basic Grains' in Honduras, Fueling Food Shortages Fidencio Alvarez abandoned his bean and corn farm in southern Honduras because of the rising cost of seeds, fuel and food. After months of one meal a day, he hiked with his wife and six children to find work in the city.

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