Gasoline was $3.65 first thing this morning. When I arrived at Crow-Mart the news was that the Governor had advised all state agencies that the price would jump by a dollar by tomorrow. By 11:30 a.m. the price at McLeod's was $3.95 and the Flash Foods price was the same. An hour later the price at Flash Foods was $3.99, and McLeod's was $4.30. The latest bulletin at Crow-Mart was that McCord's in Higgston was up to $4.70.
Is this what they mean by "futures"? The hurricane hasn't hit mainland in Texas, but the gas that has been sitting in the tanks at the stores since yesterday has increased in value to the highest price ever.
The problem is not simply dependence on foreign oil, the problem is oil, period. The country needs to invest in electricity, battery technology, electric motors and use electric trains and natural gas trucks for shipping.