Gas and Diesel Prices Rocket to New records

I have heard a lot of truckers are dropping out which will make prices of food go even higher than it is now. You can now buy a gallon of gas for less than a gallon of milk. I heard this morning that a biodiesel plant not far from us is shutting down and laying off 30 workers because the price of beans has gotten so high. Wheat bread is skyrocketing, not that it wasn't already quite high. And diesel and heating oil futures are setting records of their own amid concerns about strong global demand and tight supplies. I see our own stations in town have jumped up to $3.199 a gallon now,I think the highest it has ever been. If the environmentalists don't wake up and let us drill for oil for this country, I hope they are the first ones walking.

Deficit Widens as Oil Prices Hit record

I wonder how many people really realize how serious our trade deficit is. It is big enough but now the United States trade deficit grew even larger in January as imports, including crude oil prices, zoomed to an all time high. The dollar is slipping too and that makes it even worse.The latest snapshot of trade activity as reported by the Commerce Department on Tuesday, showed that the country's trade gap increased to $58.2 billion. That was up from a trade shortfall of $57.9 billion in December and was the highest since November. It is downright scary. Imports of goods and services climbed to a record high of $206.4 billion in January. The U.S. voracious appetite for imported crude oil, where prices skyrocketed to the highest on record, figured into the increasing demand for overall imports.