Tuesday, June 10, 2008

gas sets another record high

Americans cut back on gas consumption 1.4% over the past 4 wks.As if in reply,crude oil prices rose.Soaring demand in Asia and elsewhere is ensuring oil supplys remain tight.Analysts predict upward spike will continue,and say there is no end in sight.Most agree $5 a gallon by end of July.Perhaps soon $4 a gallon will be looked at with nostalgia.$6 a gallon will certainly put such a weight on the economy as to forcibly make doing business for many companies unfeasible,as they can only pass so much on to their customers.Many small town police forces are cutting back patrols,for example.

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