Interesting article:
https://www.nytimes.com/interactive/2022/06/14/business/gas-prices.html
So basically, oil companies cut production & staffing during COVID with less demand.
And now for a variety of reasons--one being their concern that electric cars are becoming more prevalent so their profits will begin to plummet --they have not ramped up production to pre-COVID levels.
So oil companies COULD increase drilling/production & increase supply.
But that would lower prices.
And most of us NEED gasoline to some extent.
More incentive to go electric, I guess.
I had been WANTING to go there...but I have a 2012 Nissan Altima with only 67K miles. Well cared for. Cheap to insure & gets pretty good gas mileage.
We also just bought our Mazda lease. Got it 3 years ago with a $17K buy out 2020 Mazda 6--currently valued at 32-35K--OMG! (but WHAT would we buy??!
Our DS just bought a 2013 Subaru Outback with 30K miles for $18K (yep, little old lady who drove to church on Sunday).
I took a look at electric/hybrid cars--OUCH!
I guess cars in general are extremely expensive...
SO...since I retired in May & cut out my 30 min commute each way...I'll keep driving my gas powered car...ugh.
https://www.nytimes.com/interactive/2022/06/14/business/gas-prices.html
So basically, oil companies cut production & staffing during COVID with less demand.
And now for a variety of reasons--one being their concern that electric cars are becoming more prevalent so their profits will begin to plummet --they have not ramped up production to pre-COVID levels.
So oil companies COULD increase drilling/production & increase supply.
But that would lower prices.
And most of us NEED gasoline to some extent.
More incentive to go electric, I guess.
I had been WANTING to go there...but I have a 2012 Nissan Altima with only 67K miles. Well cared for. Cheap to insure & gets pretty good gas mileage.
We also just bought our Mazda lease. Got it 3 years ago with a $17K buy out 2020 Mazda 6--currently valued at 32-35K--OMG! (but WHAT would we buy??!
Our DS just bought a 2013 Subaru Outback with 30K miles for $18K (yep, little old lady who drove to church on Sunday).
I took a look at electric/hybrid cars--OUCH!
I guess cars in general are extremely expensive...
SO...since I retired in May & cut out my 30 min commute each way...I'll keep driving my gas powered car...ugh.