Future Price of Gasoline

"Where are we going to get our fuel from when the oil wells run dry?" asks the politician. Well take a look at those vast fields of grain. Corn will be used to generate ethanol for cars, and soybeans will be ground up for their oil to make soy biodiesil for trucks.

The Chicago board of trade sees an increase in commodity prices. Think food, those eggs on the tables. The price of food goes up as the price of fuel goes up, not just due to transportation, but because cropland is used to "grow" fuel.

We are told that gasoline will remain under three dollars a gallon. Do not believe it. Where I live the price has shot from $1.87/gallon in January to $2.76/gallon now in March.

It is food versus fuel, and fuel is winning. Expect the price of eggs to go up. It takes a lot of corn to get a dozen eggs and some soy for the protein.