The High Price of Rising Middle East Tensions

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(Remember when. . .?)

The price of a barrel of oil just hit $76.70.

The price of the average gallon of gas in the U.S. is now $3.10 and rising.

This doesn't even figure in the cost to taxpayers of huge financial aid packages to Israel, Egypt and the Palestinians.

Maturity better take over soon in the Middle East.

-- Steve Clemons

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Posted by susan, Jul 13 2006, 4:23PM - Link

not to mention the off-budget occupation of Iraq.

Posted by Pissed Off American, Jul 13 2006, 4:53PM - Link

This doesn't even figure in the cost to taxpayers of huge financial aid packages to Israel, Egypt and the Palestinians.

Maturity better take over soon in the Middle East.

-- Steve Clemons

Uh, Steve, didn't we just CUT all aid to the Palistinians because they democratically elected the WRONG leadership???? Remember??? The resolution that was reportedly drafted by AIPAC, that passed resoundedly?

Posted by Hal, Jul 13 2006, 6:56PM - Link

"Maturity better take over soon in the Middle East."

Yes, of course. But we Democrats should find a way to avoid measuring Bush's performance by the price of gasoline. Over the long run, the country needs more expensive gas via higher taxation, more efficient vehicles, and more alternatives to driving.

Also, if the Ds attack the Rs for high gas prices, aren't they implicity promising to bring those prices down? How would they do that?

Posted by John Wilson, Jul 13 2006, 7:09PM - Link

Maturity must come to manmkind
Do you think we will escape the world-changing
civilization-destroying atomic war without
evolving into a more mature race? Is evolution/God
saying 'ok, you've had a stab at it, as have all
extinct species'...

Hey, have a happy day! :-)

Posted by Carroll, Jul 13 2006, 8:26PM - Link

Gas here in the coast of NC was at $2.87 today..was told by the station is was going up tomorrow.

It has gone up and down here according to the holidays...Memorial day is was $3.10, then went down to $2.64, then crept back up.

Posted by MNPundit, Jul 13 2006, 8:27PM - Link

They'd bring 'em down by actually finding alternative sources of fuel and putting them on the market. Gas will drop because here at least, there would no longer be a market for it.

Posted by Coen, Jul 14 2006, 5:23AM - Link

3,1 dollar for a gallon? That's 83 dollarcents or 65 eurocents for a litre. In the Netherlands we pay 1,4 euro (1,77 dollar) for one litre. Converted into gallons this mean we pay 6,5 dollar for a gallon. More than twice the price you pay. So high fuel prizes... Nah....

Posted by Ben, Jul 14 2006, 7:34AM - Link

Re the photo, which appears to be British (and Coen, above)...

1 US gallon = 3.78 litres.
1 GBP (the price of a litre of 'regular' in that shot = 1.84USD

So we're currently paying $6.95 a (US) gallon. Keep rattling those sabres about Iran, please!

Posted by Max, Jul 14 2006, 7:59AM - Link

I remember taking a 10,000mi coast to coast and back drive in 2002 when gas was averaging around $1.30 - $1.50. It's mind-numbing to think that the same trip will cost 2+ times as much in fuel now. Then again, now that I live in Germany, gas here is Ã¢â€šÂ¬1,31/liter, so around $6.25/gallon. It should be interesting to see the substantive impact when the various consumer cyclicals release their next quarterly earnings reports.

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