US Gas Consumption At 11 Year Low
Gas consumption by US consumers is at an 11 year low, according to a number of media. This has not helped keep down gas prices, as forces outside the US like a potential blockade of the Strait of Hormuz has…
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Gas consumption by US consumers is at an 11 year low, according to a number of media. This has not helped keep down gas prices, as forces outside the US like a potential blockade of the Strait of Hormuz has pushed prices of oil up. And, there are other things which could drive oil up. Supply globally is at very low levels. There is not guarantee that OPEC can replace oil from Iran if a sanction standoff over nuclear weapons manufacture in the country is not settled.
The national average price for a gallon of unleaded as of Wednesday was $3.579, some 40 cents more than this time last year, according to AAA, the automobile association. The current price is 53.5 cents shy of the record, and the peak driving months, with their increased demand, are still ahead.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
