Goodbye, Blue Monday

Goodbye, Blue Monday!
Goodbye, Blue Monday!

Another Thanksgiving come and gone, and on this first day of December we all probably are wondering where the hell 2014 went.

Before we begin, once more we give our thanks to for the Rule Five links!  Aficionados of the Feminine Aesthetic should check out Wombat-socho’s extensive compilation of links.

An interesting data point noticed in our Thanksgiving travels was the drop in gasoline prices.  Some of the reasons for that are the explosion of gas and oil development in the Dakotas and Canada, but another explosion is taking place in the Utica Shale formation of  eastern Ohio.  Excerpt:

The Utica Shale is coming on strong as the nation’s second-fastest natural gas formation, right behind the Marcellus. The Utica lies just beneath the Marcellus and extends all the way from central Ohio to tiny slivers of Maryland and New Jersey (not shown). Production in the Utica has risen tenfold since the field was opened in 2012, from 155 million cubic feet per day to 1.3 billion.

Until recently, regular unleaded gasoline was well over $3 a gallon here in Colorado.  It was over $3 in Indiana for all of the year and three months I recently spent there.  When we traveled yesterday across Iowa, Nebraska and eastern Colorado, the highest we paid for petrol was $2.67.

Smiling BearSupply and demand works, True Believers.  Adam Smith figured that out 240 years ago, even if Congress and the other denizens of the Imperial City haven’t yet.

So why has the Senate not approved the Keystone pipeline, which will add 800 miles of pipeline to the well over 2 million already in everyday use around the lower 48?  The environmental lobby has had their say, but their argument is based on a sham; that oil will be extracted and sold, either to the U.S. or to China.  While the price of oil, a fungible commodity, is a global price, and that price will continue to drop as supply increases, it would be a far more efficient use of the resource to refine and use it closer to the point of origin.

And why not send U.S. energy dollars to a nation that is not only our neighbor but also our close friend and ally, rather than to Middle Eastern sponsors of terror, run by either thug-dictators or cabals of 7th century barbarians?

The recalcitrance of the Obama Administration on this issue is mind-boggling.