Thursday, July 7, 2022

Gas Prices are Still Very High, but Traffic is Very Heavy


The above video from NBC News was done in March, shortly after Russia invaded Ukraine.  Since that time gas prices have risen above $5.00/gallon on average and then dipped a little.  I observe no decline in traffic when I drive on the highways of Queens.  Back in the 1970s during the Arab oil embargo, the supply went down causing people to wait a long time to get gas.  The gas lines came back in 2012 after Storm Sandy prevented oil to be delivered to NYC.  At those two points in time, there was a visible decrease in the number of cars on the road.

I guess the big oil companies are making great profits.

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