Of course they went up after the election, despite the predictions of some on this thread that the Clinton/Gore sell off of strategic oil reserves would solve the problem. First, winter came, driving up the price. Second, Intifada II got heated up, raising questions about the political climate in the Middle East, and the future behavior of OPEC, and leading to caution about maintaining oil reserves for the summer. Now, the assessment is more optimistic, and less crude is being reserved. However, what was held in reserve was bought at a high price, and so there is a lagging retail effect.
My electric bills have been relatively low, as the spring has come in, and would be lower if my wife were not asthmatic and I were not allergic to pollen, making it unwise to turn off the air- conditioner and open windows. I presume California has similarly benefitted. Furthermore, I doubt that much new capacity has come on line, but I do suspect that buying from area grids has increased. In a less panicky situation, negotiating reasonable deals is possible. |
