Been wondering where a bunch of your money went this year? For the average American family, a higher percentage of the budget was spent on gas in 2011 than at any point since 1981. According to the AP, gas cost most Americans $4,155, or 8.4 percent of the median household income, in 2011. In 1981, the number was 8.8 percent. In the 2000s, a normal number was around 5.7 percent.
Which is fine with the O’Carter Administration, because as Secretary Chu has admitted, the goal is not to lower gas prices, it’s to force you to make better choices—like biofuels. How’s that working out?
Back in October 2010 the Navy purchased 20,055 gallons of algae biofuel at a whopping cost of $424/gallon. At the time that was one of the biggest U.S. purchases of a (non-corn ethanol) biofuel to date.
Fast-forward a year and the Navy is back at it. It’s spent a reported $12M USD to get 450,000 gallons of biofuel. The bad news? The fuel cost works out to around $26.67 per gallon — around 6 to 8 times as much as traditional gas.
Oh, goody, goody! After millions of tax dollars are dumped down the “algae fuel” drain, the fuel only costs $27/gallon. That’s a mere 700 percent more than regular fuel.
Way to go!
The average price at the gas pump pushed toward $3.80 per gallon Monday as oil prices remained stubbornly high because of tensions tied to Iran’s nuclear program.
The nationwide average for gasoline rose less than a penny overnight to $3.77 a gallon, which was the 27th consecutive day of gains, according to AAA, Wright Express and the Oil Price Information Service. The price has risen 32 cents, or 9.3 percent, since Feb. 1.
It’s 27 days in a row of rising gas prices…and Democrats are telling us there’s nothing to see here, move along.
But I can’t “move along.” I’m out of gas!