Weekly Commentary for April 26, 2011
I was in high school in 1978 when the Kinks wrote “A Gallon of Gas” which was a pretty clever tune. After all, a gallon of gas in 1978 had just gone from .45 to $1.00 a gallon.
Four weeks ago, a lot of folks were warning “if oil remains around $100 barrel, it would eventually slow down the economy.” This could be bad news for the stock market.
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So, four weeks later, oil has blown through $100 and trades at $112. And what is everyone talking about?
Kate Middleton. And Donald Trump.
And gas is now approaching $5.00 a gallon. Who needs a highway, an airport or a jet, if you can’t buy a gallon of gas?