Monday, April 24, 2006

Gas Buddy Map - Note Upstate NY Prices...

Wow, this is a great mashup of geography meeting data. You can see the counties that are paying the most for gas - Including our own St. Lawrence County at $3.19/gal and those that are dishing out a mere $2.37/gal like those lucky @**#$ in Wyoming.

Since my days on Wall St. I've always been a bit of a chart/data geek and this one is a home run. Kudos to the brains behind Gas Buddy.

As a reminder - Congress is getting ready to call hearings, blah, blah, blah. By the time they start their hearings you'll be back to paying $2.50/gallon (not great but better). So while calling for hearings makes great news and puts you on the side of the little guy vs. the Big Bad oil companies remember the heart of this problem lies with

  • Speculators pushing the market up over unrest in Nigeria and potential problems with Iran
  • Refining capacity which was constrained by maintenance schedules. Normal maintenance schedules at refineries were delayed by Katrina.
  • Anticipation of the summer driving season
  • Supply/Demand constraints - but frankly that only justifies oil at $55-$60 everything above that is due to the factors noted above IMHO.
Keep this in mind - Oil companies are like Donald Trump, they don't know when to say when. Trump has overbuilt into the teeth of this housing boom and the oil companies will over drill and bring too much supply online in the next couple of years pushing prices back down to earth. It's why commodities are called CYCLICAL stocks not growth stocks :)

Be on the lookout for NNYDEALS - coming soon....

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