By George Anderson
The high price of gas is beginning to crimp America's driving style and a summer shortage might cause the economy to run out of gas.
An Associated Press report says the situation is especially critical in California where prices at the pump have jumped to an average of $2.06 a gallon.
Last week, U.S. Sen. Barbara Boxer called for the General Accounting Office (GAO) to look into reports that an unusually high number of refineries were off line for maintenance. The senator expressed concerned that the current activities of the oil companies would lead to gasoline shortages and higher prices.
Bloomberg News recently reported the chairman of ConocoPhillips, Archie Dunham was predicting a gasoline shortage for the summer months.
Moderator's Comment: Are retailers seeing a noticeable change in consumer behavior as gas prices increase? How would a gasoline shortage impact retail operations?
Saudi Arabia has pledged to keep the oil pumping to help offset supply problems caused by a war with Iraq. The White House has said it will dip into the country's oil reserves if needed. So, why can we not get the memory of long lines at gas stations during the seventies' oil embargo out of our head? [George Anderson - Moderator]
- High gas prices affecting American lifestyles - Associated Press/Dallas Morning News
- Senator calls for probe of soaring gas prices - San Jose Mercury News