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	<title>Business &#38; MoneyCategory: Oil &#124; Business &#38; Money &#124; TIME.com</title>
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		<title>Business &#38; MoneyCategory: Oil &#124; Business &#38; Money &#124; TIME.com</title>
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		<title>U.S. Gas Prices Up 11 Cents Over Past 2 Weeks</title>
		<link>http://business.time.com/2013/05/19/u-s-gas-prices-up-11-cents-over-past-2-weeks/</link>
		<comments>http://business.time.com/2013/05/19/u-s-gas-prices-up-11-cents-over-past-2-weeks/#comments</comments>
		<pubDate>Sun, 19 May 2013 21:53:26 +0000</pubDate>
		<dc:creator>Associated Press</dc:creator>
				<category><![CDATA[Oil]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80385</guid>
		<description><![CDATA[(CAMARILLO, Calif.) — The average U.S. price of a gallon of gasoline has jumped 11 cents over the past two weeks. The Lundberg Survey of fuel prices released Sunday says the price of a gallon of regular is $3.66. Midgrade costs an average of $3.84 a gallon, and premium is $3.98. Diesel held steady at $3.93 gallon. Of the cities surveyed in the lower 48 states, Tucson, Ariz., has the nation&#8217;s lowest average price for gas at $3.18. Minneapolis has the highest at $4.27. In California, the lowest average price was $3.94 in Fresno. The highest was in San Francisco at $4.07. The average statewide for a gallon of regular was $4.03, up 18 cents.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80385&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Oil</primary_category><primary_category_link>http://business.time.com/category/companies-industries/oil-companies-industries/</primary_category_link>
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			<media:title type="html">timeassociatedpress</media:title>
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		<title>MPG Rising: When Regulations Drive Up Prices—And Consumers Don&#8217;t Mind</title>
		<link>http://business.time.com/2013/05/06/mpg-rising-when-regulations-drive-up-prices-and-consumers-dont-mind/</link>
		<comments>http://business.time.com/2013/05/06/mpg-rising-when-regulations-drive-up-prices-and-consumers-dont-mind/#comments</comments>
		<pubDate>Mon, 06 May 2013 09:45:35 +0000</pubDate>
		<dc:creator>Brad Tuttle</dc:creator>
				<category><![CDATA[Autos]]></category>
		<category><![CDATA[Companies & Industries]]></category>
		<category><![CDATA[Energy]]></category>
		<category><![CDATA[Oil]]></category>
		<category><![CDATA[Saving]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[Smart Spending]]></category>
		<category><![CDATA[car features]]></category>
		<category><![CDATA[cars]]></category>
		<category><![CDATA[Fuel Economy]]></category>
		<category><![CDATA[fuel efficiency]]></category>
		<category><![CDATA[gas]]></category>
		<category><![CDATA[gasoline]]></category>
		<category><![CDATA[hybrids]]></category>
		<category><![CDATA[mileage]]></category>
		<category><![CDATA[mpg]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=79292</guid>
		<description><![CDATA[If there&#8217;s one thing Americans would seem to hate more than regulations, it&#8217;s regulations that directly result in them spending more money out of pocket. So why are so many consumers fans of new government-mandated automobile mileage standards that do just that? Last summer, a study commissioned by an auto dealership association warned that as government regulations mandating better mileage for new automobiles took effect, the price of a new car could go up by over $12,000 in a worst-case scenario, making the purchase unaffordable to nearly 15 million Americans. Others estimated that the mileage standards would push new-car prices up perhaps $1,000 by 2016, and increase the average purchase price by $2,000 to $3,000 by 2025. At first glance, this is the sort of government regulation that consumers might absolutely loathe. It&#8217;s meddlesome, causing prices to rise and removing decision-making powers from manufacturers and shoppers alike. And yet many consumer groups have voiced strong support for the mileage standards—Consumer Reports, for example. A new Consumer Federation of America survey shows that the vast majority of consumers themselves are also now on board with the standards, which will push the average new car to hit the 35 MPG mark by 2017, and up to 54.5 MPG by 2025. In the survey, 85% of Americans said they support the requirements. More than 9 in 10 Democrats (92%) are in favor of the government-mandated fuel-economy standards, as are 77% of Republicans. (MORE: Light Switch: Why You&#8217;ll Start Using LED Bulbs This Year) There&#8217;s no great mystery as to why consumers across the political spectrum support the regulations: The standards just so happen to align with consumer purchase preferences. In the survey, 88% of respondents said that gas mileage would an important factor in what car they purchased next, and 83% said they were worried about gas prices over the next five years. Average car MPG has been creeping upward for years, and the trend seems to have more to do with what consumers want as opposed to what automakers are being forced<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=79292&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Autos</primary_category><primary_category_link>http://business.time.com/category/companies-industries/autos-companies-industries/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2011/10/82587892-e13189731706601.jpg?w=240</featured_image>
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			<media:title type="html">Gasoline, fuel costs</media:title>
		</media:content>

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			<media:title type="html">bradtuttle</media:title>
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	</item>
		<item>
		<title>Is the Price of Gold Signaling an Economic Slowdown?</title>
		<link>http://business.time.com/2013/04/29/is-the-price-of-gold-signaling-an-economic-slowdown/</link>
		<comments>http://business.time.com/2013/04/29/is-the-price-of-gold-signaling-an-economic-slowdown/#comments</comments>
		<pubDate>Mon, 29 Apr 2013 09:45:40 +0000</pubDate>
		<dc:creator>Michael Sivy</dc:creator>
				<category><![CDATA[Austerity]]></category>
		<category><![CDATA[Bonds]]></category>
		<category><![CDATA[Commodities]]></category>
		<category><![CDATA[Economic Indicators]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Emerging Markets]]></category>
		<category><![CDATA[Energy]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[Federal Reserve]]></category>
		<category><![CDATA[Investing]]></category>
		<category><![CDATA[Markets]]></category>
		<category><![CDATA[New Energy]]></category>
		<category><![CDATA[Oil]]></category>
		<category><![CDATA[Portfolio Strategy]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Wall Street]]></category>
		<category><![CDATA[Wall Street & Markets]]></category>
		<category><![CDATA[World Finance]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=78807</guid>
		<description><![CDATA[Friday’s GDP number was a disappointment. The consensus among economists was that growth for the first quarter would be at least 3% (at an annual rate adjusted for inflation). The actual number was only 2.5%. And even that wasn’t as good as it looked. Growth late last year was very weak, so part of the first-quarter gain was simply a short-term bounce back from the previous quarter. Nonetheless, those results appear to fit with conventional wisdom: A lethargic economy has managed to crank out minimal but steady growth for almost four years. And the outlook is slowly getting better rather than getting worse. Some contrarians challenge that view. They sees signs that the U.S. economy is losing momentum and is heading for another slowdown, if not another recession. The leading indicators of such a future downturn include price trends for important commodities, as well as for Treasury bonds. The most significant bellwether is the recent drop in the price of gold – the sharpest in 30 years. Since the U.S. abandoned the gold standard in the mid-1970s, consumer prices have quadrupled, but gold has risen more than ten-fold. The gold price hasn’t moved higher consistently – it was relatively flat during much of the 1980s and ’90s. But there have been only three periods in which gold prices suffered a significant and rapid decline. The first was from 1980 to ’82, when Federal Reserve chairman Paul Volcker raised interest rates to crush double-digit inflation and the U.S. economy experienced two closely spaced recessions. The second was in 2008, when the financial crisis caused a credit crunch and a worldwide recession. (MORE: A Nation of Renters: Should We Be Worried That Fewer Americans Own Homes?) The third period began in 2011, when gold peaked at $1,896 an ounce. Since then, the price has fallen to $1,440. Strikingly, this decline is occurring at a time when the Fed is pumping money into the banking system, interest rates are extremely low, and the U.S. economy has not had a negative quarter for nearly four years. Why<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=78807&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Economy &amp; Policy</primary_category><primary_category_link>http://business.time.com/category/economy-policy/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/04/rtxymy9-copy.jpg?w=240</featured_image>
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			<media:title type="html">Watches and gold jewellery in a display case inside the Gold Standard jewellery store, specializing in purchasing raw gold and silver in New York City, on April 15, 2013.</media:title>
		</media:content>

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			<media:title type="html">michaelsivy</media:title>
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	</item>
		<item>
		<title>2013 Gas Prices: Even Less Predictable Than Usual</title>
		<link>http://business.time.com/2013/04/24/2013-gas-prices-even-less-predictable-than-usual/</link>
		<comments>http://business.time.com/2013/04/24/2013-gas-prices-even-less-predictable-than-usual/#comments</comments>
		<pubDate>Wed, 24 Apr 2013 12:00:04 +0000</pubDate>
		<dc:creator>Brad Tuttle</dc:creator>
				<category><![CDATA[Autos]]></category>
		<category><![CDATA[Companies & Industries]]></category>
		<category><![CDATA[Energy]]></category>
		<category><![CDATA[Oil]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[Smart Spending]]></category>
		<category><![CDATA[crude]]></category>
		<category><![CDATA[crude oil]]></category>
		<category><![CDATA[gas]]></category>
		<category><![CDATA[gas prices]]></category>
		<category><![CDATA[gas stations]]></category>
		<category><![CDATA[GasBuddy]]></category>
		<category><![CDATA[gasoline]]></category>
		<category><![CDATA[mpg]]></category>
		<category><![CDATA[seasonal]]></category>
		<category><![CDATA[seasonality]]></category>
		<category><![CDATA[supply and demand]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=78226</guid>
		<description><![CDATA[While gas prices always have some degree of unpredictability, there is generally a reliable (OK, reliable-ish) seasonal ebb and flow. Typically, prices at the pump rise hand in hand with temperatures. As days grow longer and warmer, drivers hit the road more. Demand for gasoline rises, as do prices, with steady increases mixed in with occasional spikes in spring and summer. Later, prices tend to retreat with the arrival of colder days. That&#8217;s how things typically work. Thus far, 2013 hasn&#8217;t been remotely typical. Gas prices usually fall during the midwinter chill at the start of the year. This year, the opposite happened, with sharp increase in February. Prices almost never decline in March, but that&#8217;s exactly what happened this past March, resulting in a national average that was 30¢ per gallon cheaper than the year before. According to this week&#8217;s Energy Information Administration report, the national average is around $3.53 per gallon, down 7¢ from a couple of weeks ago, and down 33¢ compared to a year ago. Normally, at this time of the year, gas prices are creeping upward as Memorial Day, and the warmth of summer, nears. (MORE: Just How Often Are Car MPG Claims Inflated?) And what can drivers expect going forward? Probably more of the same—meaning more unpredictability, not necessarily more price drops. The Kansas City Star described 2013&#8242;s wild swings in gas prices as &#8220;the most volatile in at least a decade.&#8221; Things got especially screwy last week, when drivers on one side of Missouri were paying 27¢ per gallon less than customers on the other side, reportedly thanks to supply issues. “The traditional ups and downs in fuel prices have become more erratic,” AAA spokesman Mike Right told the Star. “Get ready for a roller coaster,” said Steve Mosby, a partner with Admo Energy, which supplies gas stations and other retailers with gasoline. He was talking to a reporter in Missouri, but he could have been referring to Michigan, where the local AAA reported a price spike of 24¢ per gallon over the<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=78226&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Oil</primary_category><primary_category_link>http://business.time.com/category/companies-industries/oil-companies-industries/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/03/gas1.jpg?w=240</featured_image>
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			<media:title type="html">gas</media:title>
		</media:content>

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			<media:title type="html">bradtuttle</media:title>
		</media:content>
	</item>
		<item>
		<title>Is the Global Economy Slowly Falling Apart?</title>
		<link>http://business.time.com/2013/04/05/is-the-global-economy-slowly-falling-apart/</link>
		<comments>http://business.time.com/2013/04/05/is-the-global-economy-slowly-falling-apart/#comments</comments>
		<pubDate>Fri, 05 Apr 2013 12:00:39 +0000</pubDate>
		<dc:creator>Michael Sivy</dc:creator>
				<category><![CDATA[Austerity]]></category>
		<category><![CDATA[Bonds]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Energy]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[Federal Reserve]]></category>
		<category><![CDATA[Government]]></category>
		<category><![CDATA[Information Technology]]></category>
		<category><![CDATA[Investing]]></category>
		<category><![CDATA[Markets]]></category>
		<category><![CDATA[Media]]></category>
		<category><![CDATA[Oil]]></category>
		<category><![CDATA[Portfolio Strategy]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Taxes]]></category>
		<category><![CDATA[Technology & Media]]></category>
		<category><![CDATA[Wall Street & Markets]]></category>
		<category><![CDATA[World Finance]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=76345</guid>
		<description><![CDATA[It’s conventional wisdom that the U.S. economy is steadily recovering from the recession, even if progress is slow and disappointing. But there’s also a widespread sense that long-term economic prospects are deteriorating all around the world. Young people can’t find jobs. Budgets keep being cut in both the public and the private sectors. And the projected increase in debt over the next decade figures to be a huge burden for the most highly developed economies. Political systems seem unable to cope with problems that ought to be fairly easy to solve, or at least contain. As the recent crisis in Cyprus demonstrates, a minor dislocation can become a threat to the entire global financial system overnight. The U.S. is deeply troubled too. Deficits remain enormous, and the checks and balances of the political system have turned into a logjam. In a new book, David Stockman, President Ronald Reagan’s budget director, chronicles the relentless downward spiral of America’s political and financial systems. He concludes: “The future is bleak &#8230; When the latest bubble pops, there will be nothing to stop the collapse.” This view may be extreme, but there’s hard evidence to substantiate the idea that the global economy is becoming more rickety. Although the developed world today is considerably richer overall than it was when Stockman worked in the Reagan Administration, creditworthiness has been steadily declining. The global supply of AAA-rated government bonds has shrunk by more than 60% since the financial crisis began. And while dozens of big U.S. corporations had top bond ratings 30 years ago, today that group has dwindled to four: Automatic Data Processing, Exxon Mobil, Johnson &#38; Johnson and Microsoft. How seriously should we take these bellwethers? Although there are real problems that need to be solved, the long-term picture doesn&#8217;t look entirely bleak. Four major trends will determine global economy stability in the long run: (MORE: Marx&#8217;s Revenge: How Class Struggle Is Shaping the World) Demographics Populations develop bulges because of changing birthrates. In the most simplistic terms, a bulge of high-spirited young people correlates with<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=76345&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Economy &amp; Policy</primary_category><primary_category_link>http://business.time.com/category/economy-policy/</primary_category_link>
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			<media:title type="html">michaelsivy</media:title>
		</media:content>
	</item>
		<item>
		<title>Gas Prices Almost Never Decline in March—But They Did Last Month</title>
		<link>http://business.time.com/2013/04/02/gas-prices-almost-never-decline-in-march-but-they-did-last-month/</link>
		<comments>http://business.time.com/2013/04/02/gas-prices-almost-never-decline-in-march-but-they-did-last-month/#comments</comments>
		<pubDate>Tue, 02 Apr 2013 18:29:55 +0000</pubDate>
		<dc:creator>Brad Tuttle</dc:creator>
				<category><![CDATA[Autos]]></category>
		<category><![CDATA[Companies & Industries]]></category>
		<category><![CDATA[Energy]]></category>
		<category><![CDATA[Oil]]></category>
		<category><![CDATA[Smart Spending]]></category>
		<category><![CDATA[The Economy]]></category>
		<category><![CDATA[crude]]></category>
		<category><![CDATA[fuel efficiency]]></category>
		<category><![CDATA[gas]]></category>
		<category><![CDATA[gas prices]]></category>
		<category><![CDATA[gasoline]]></category>
		<category><![CDATA[mpg]]></category>
		<category><![CDATA[seasonal demand]]></category>
		<category><![CDATA[unemployment]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=76416</guid>
		<description><![CDATA[Traditionally, gas prices have risen in the spring and peaked during the high-demand summer months. Last year, though, prices spiked starting in February and reached their highs in early May, before declining slightly in summer. Has a new seasonal pattern been established? The only real &#8220;pattern&#8221; here seems to be the absence of one that motorists can predictably rely on. Gas prices usually fall in February. But prices at the pump rose in February 2012, and did so again in February 2013. So has there been a shift, in which the annual seasonal rise in gasoline prices now starts in February and continues increasing as the weather warms and more cars hit the road? Nope. Gas prices almost always rise in March. But, in a twist that&#8217;s perhaps even more surprising than prices increasing during the past two Februarys, the national per-gallon average dropped fairly sharply last month. AAA announced that between March 1 and 31, gas prices dropped 15¢ nationwide. That&#8217;s the first time prices at the pump have dipped in March in 10 years—and when it last happened, in 2003, the decrease was a mere 1¢. (MORE: Buy an Electric Car, Get a Gas-Powered Car for Free) &#8220;Gas prices in March came in like a lion and are going out like a lamb,&#8221; wrote GasBuddy analyst Patrick DeHaan. &#8220;Essentially what we&#8217;re seeing here this month is perhaps the largest monthly decrease ever during the month of March &#8212; a month that has almost always seen prices finishing the month substantially higher than where they entered.&#8221; Could it be that gas prices already hit their top levels for the year, when the national average was $3.79 near the end of February? Could drivers catch a break on fuel costs with cheaper prices for the rest of the year? That&#8217;s pretty unlikely. “AAA has no record of gas prices ever peaking in February, and it is too early to say whether prices may have hit a high for the first half of the year,” AAA spokesperson Avery Ash announced in<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=76416&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Oil</primary_category><primary_category_link>http://business.time.com/category/companies-industries/oil-companies-industries/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2011/09/dv879021-e13159391446971.jpg?w=240</featured_image>
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			<media:title type="html">gas, gas station</media:title>
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		<media:content url="http://0.gravatar.com/avatar/f8de938518e7b986d552694ed99aa54d?s=96&#38;d=http%3A%2F%2F0.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">bradtuttle</media:title>
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		<title>Could It Be? Gas Prices Are Around 25¢ Cheaper Than Last Year</title>
		<link>http://business.time.com/2013/03/28/could-it-be-gas-prices-are-around-25%c2%a2-cheaper-than-last-year/</link>
		<comments>http://business.time.com/2013/03/28/could-it-be-gas-prices-are-around-25%c2%a2-cheaper-than-last-year/#comments</comments>
		<pubDate>Thu, 28 Mar 2013 14:00:15 +0000</pubDate>
		<dc:creator>Brad Tuttle</dc:creator>
				<category><![CDATA[Autos]]></category>
		<category><![CDATA[Companies & Industries]]></category>
		<category><![CDATA[Energy]]></category>
		<category><![CDATA[Oil]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[Smart Spending]]></category>
		<category><![CDATA[biofuels]]></category>
		<category><![CDATA[corn]]></category>
		<category><![CDATA[ethanol]]></category>
		<category><![CDATA[gas]]></category>
		<category><![CDATA[gas prices]]></category>
		<category><![CDATA[gas stations]]></category>
		<category><![CDATA[gasoline]]></category>
		<category><![CDATA[Iowa]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=75959</guid>
		<description><![CDATA[The current national average per gallon of gas, $3.65, probably doesn&#8217;t seem all that cheap. Not compared to the beginning of the year, when prices were 10% cheaper. And especially not compared to a few years ago, when gas sold for under $2. So some drivers are surprised—and a bit skeptical—to hear that prices are significantly less than a year ago at this time. According to the AAA Fuel Gauge Report, the national average for a gallon of regular was $3.65 as of Wednesday. Exactly one year prior, the average measured $3.898, about 25¢ more. What&#8217;s more, in recent weeks, gas prices have declined all over the U.S. Gas prices in Kentucky dropped 12¢ over the last month, matching the one-month decline nationally. In states such as Idaho, gas prices are 30¢ less than a year ago. (MORE: Plug-In Price War: $6,000 Price Cuts on Nissan Leaf, Toyota Prius EV) Few drivers are overjoyed with gas prices lately, however. Some don&#8217;t even seem to believe that they are paying less than a year ago. This week, the price-tracking service GasBuddy posted on Facebook a current list of gas prices in 166 U.S. cities, next to a list of prices from a year ago—and in every single case, prices were cheaper in 2013. Several commenters disputed the data, swearing that they were paying less 12 months ago. Many others griped that the prices are &#8220;still way too high,&#8221; regardless of whether or not there was a time when they were higher. The feeling is that even if prices are cheaper than last year, that doesn&#8217;t mean they&#8217;re cheap. What&#8217;s more, powerful players in the gasoline business say that even though gas prices have declined recently, the prices at the pump should be much cheaper. Last week, the DesMoines Register reported that oil company advocates are blaming the ethanol industry for unnecessarily high gas prices. Meanwhile, supporters of ethanol and other renewable fuels are putting the blame on Big Oil: Renewable energy people want an investigation of oil company pricing. The oil<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=75959&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Oil</primary_category><primary_category_link>http://business.time.com/category/companies-industries/oil-companies-industries/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/10/10168136.jpg?w=240</featured_image>
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			<media:title type="html">image: gas pump</media:title>
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		<media:content url="http://0.gravatar.com/avatar/f8de938518e7b986d552694ed99aa54d?s=96&#38;d=http%3A%2F%2F0.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">bradtuttle</media:title>
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		<title>Can the U.S. Dollar Become Almighty Once Again?</title>
		<link>http://business.time.com/2013/03/20/can-the-u-s-dollar-become-almighty-once-again/</link>
		<comments>http://business.time.com/2013/03/20/can-the-u-s-dollar-become-almighty-once-again/#comments</comments>
		<pubDate>Wed, 20 Mar 2013 14:35:25 +0000</pubDate>
		<dc:creator>Michael Sivy</dc:creator>
				<category><![CDATA[Austerity]]></category>
		<category><![CDATA[Banking]]></category>
		<category><![CDATA[Commodities]]></category>
		<category><![CDATA[Currency]]></category>
		<category><![CDATA[Economic Indicators]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Energy]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[Federal Reserve]]></category>
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		<category><![CDATA[Government]]></category>
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		<category><![CDATA[Jobs]]></category>
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		<category><![CDATA[Oil]]></category>
		<category><![CDATA[Portfolio Strategy]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Wall Street]]></category>
		<category><![CDATA[Wall Street & Markets]]></category>
		<category><![CDATA[Wealth]]></category>
		<category><![CDATA[World Finance]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=75257</guid>
		<description><![CDATA[Financial turmoil in Cyprus, where the parliament rejected a plan an eurozone bailout deal that would have taxed bank deposits, is prompting investors to shift cash from the euro zone to the U.S. That’s boosting the value of the dollar &#8212; and it’s just the latest installment in a story that has helped the dollar strengthen for more than a year. Despite gridlock in Washington and a string of economic mishaps, the dollar has risen by 7% since late 2011. That’s a striking turnaround for a currency that was in relentless decline for decades. If the upward trend continues – and there are good reasons to think it will – then the U.S. dollar could become almighty once again. The dollar’s decline over the past 30 years has been far greater than most Americans realize. It has lost almost half its value against other major currencies since 1985 and is down 33% in the past 11 years alone. Indeed, the value of the U.S. dollar is lower today than it was in 2009 when the recession ended. In part, this fall occurred because of government policies in Europe and Japan that kept the euro and the yen overvalued. A weak currency can bolster a country’s economy in the short run, by making goods cheaper for foreign buyers and thereby encouraging exports. But over the longer term, a robust economy is typically accompanied by a strong currency. A currency rises in value when more foreign money is flowing in than is flowing out. These inflows occur not only because of export sales but also because foreigners see investment opportunities or are seeking safe places to park their cash. As a result, a stronger dollar is a bellwether of an improving economy and a brighter outlook for U.S. stocks. And there are three reasons economists think the dollar’s rise could continue: (MORE: Cyprus: The E.U. &#8216;Rescue That Risks Backfiring) Other major countries are worse off economically. The U.S. economy may be sluggish, but it has grown for 14 straight quarters since the recession ended<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=75257&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>World Finance</primary_category><primary_category_link>http://business.time.com/category/world-finance/</primary_category_link>
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			<media:title type="html">michaelsivy</media:title>
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		<title>Lots of Goodies Were Stuffed into the Fiscal Cliff Deal­</title>
		<link>http://business.time.com/2013/01/07/lots-of-goodies-were-stuffed-into-the-fiscal-cliff-deal%c2%ad/</link>
		<comments>http://business.time.com/2013/01/07/lots-of-goodies-were-stuffed-into-the-fiscal-cliff-deal%c2%ad/#comments</comments>
		<pubDate>Mon, 07 Jan 2013 15:00:01 +0000</pubDate>
		<dc:creator>Michael Sivy</dc:creator>
				<category><![CDATA[Agriculture]]></category>
		<category><![CDATA[Austerity]]></category>
		<category><![CDATA[Banking]]></category>
		<category><![CDATA[Business of Sports]]></category>
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		<category><![CDATA[Construction]]></category>
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		<category><![CDATA[Green]]></category>
		<category><![CDATA[Hollywood]]></category>
		<category><![CDATA[Investment Banking]]></category>
		<category><![CDATA[Manufacturing]]></category>
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		<category><![CDATA[Oil]]></category>
		<category><![CDATA[Private Equity]]></category>
		<category><![CDATA[Retail]]></category>
		<category><![CDATA[Taxes]]></category>
		<category><![CDATA[Transportation]]></category>
		<category><![CDATA[Wall Street]]></category>
		<category><![CDATA[Wall Street & Markets]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=65939</guid>
		<description><![CDATA[You’d think that Congress would have kept the fiscal cliff negotiations as simple and tight as possible. The size of the deficit, the threat of automatic spending cuts, and the need for a last-minute tax deal deserved everyone’s full attention. And yet, the Congressional Budget Office breakdown of the bill shows that there were all sorts of goodies buried in the fine print, benefiting everyone from filmmakers to rum distillers. The problem is so-called “tax expenditures,” which are basically ways to subsidize various kinds of activities through tax breaks (as opposed to direct payments). The fiscal cliff deal consists of three parts – personal taxes, business taxes and energy taxes – and each includes its own giveaways. Many of these were simply increases or extensions of tax expenditures that already existed. And some of them may be perfectly reasonable public policy. Perhaps it’s worthwhile to spend an additional $9.7 billion over the next 10 years on additional subsidies for student loans or $5.6 billion for adoptions, although both those figures seem like a lot considering that employer-provided childcare is getting only $209 million. More money is at stake in subsidies for various businesses, $46 billion, and for alternative energy, $18 billion. But even when those tax expenditures are justifiable, they merit separate and thorough discussion, rather than being mixed into what is supposed to be a debate over personal income tax rates. Moreover, there are plenty of lesser tax expenditures that seem to deserve some skepticism. Indeed, Senator McCain criticized such tax benefits last week, saying that &#8220;special-interest giveaways,&#8221; including a $15 million subsidy for asparagus growers, would feed cynicism at a time when tough choices have to be made about the deficit. Here’s a quick look at where some of the other small bequests are going: Railroad tracks. A special 50% tax credit for maintaining tracks is projected to cost $331 million over the next two years. Racetracks. Tax benefits for certain motorsport racing track facilities will cost more than $100 million over the next seven years. Native Americans. Business property on Indian reservations will receive<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=65939&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Economy &amp; Policy</primary_category><primary_category_link>http://business.time.com/category/economy-policy/</primary_category_link>
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			<media:title type="html">michaelsivy</media:title>
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		<title>Mississippi River Could Close to Barge Traffic Within Days</title>
		<link>http://business.time.com/2013/01/04/mississippi-river-could-close-to-barge-traffic-within-days/</link>
		<comments>http://business.time.com/2013/01/04/mississippi-river-could-close-to-barge-traffic-within-days/#comments</comments>
		<pubDate>Fri, 04 Jan 2013 10:45:43 +0000</pubDate>
		<dc:creator>Josh Sanburn</dc:creator>
				<category><![CDATA[Agriculture]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Oil]]></category>
		<category><![CDATA[Transportation]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=65761</guid>
		<description><![CDATA[Drought may cause traffic on the Mississippi River – which is used to transport everything from grain to petroleum to coal – to a halt as soon as this weekend. And the stoppage could last for months. The lack of precipitation throughout much of the country has brought about drought conditions that the National Climatic Data Center has called the worst since the 1950s. Water levels on the river are lowest in a 180-mile stretch between St. Louis and Cairo, Ill., sometimes referred to as the Middle Mississippi. That’s where the U.S. Army Corps of Engineers has been dredging to maintain a 9-foot channel to allow barges and boats to pass. Most vessels can’t travel in waters any shallower. (MORE: Why 2013 Will Be Another Huge Year for Car Sales) According to the American Waterways Operators (a trade group representing the tugboat, towboat, and barge industry) and Waterways Council (a national public policy organization), a traffic stoppage could occur as soon as this weekend, halting a $180 billion transportation industry. The groups estimate that a disruption in the Mississippi River’s supply chain could affect more than 8,000 jobs, $54 million in wages and benefits, and 7.2 million tons of commodities worth $2.8 billion. Jerry Fruin, an applied economics professor at the University of Iowa, says that the two groups’ estimates on the value and quantity of commodities along the Mississippi are on target, but adds the economic ramifications may be overstated because other transportation sectors like rail or trucking would likely get a boost from accommodating some of the cargo that can&#8217;t travel down the river by boat. While the river appears to be shrinking faster than some expected, some short-term rain is in the forecast – which could delay a potential shutdown. But many are expecting an eventual halt to shipping soon. “There’s a very real risk of a shutdown for six to eight weeks,” Fruin says. (MORE: What Choice? How Abortion-Rights Are Losing) The U.S. Army Corps of Engineers, however, remains hopeful that a traffic stoppage can be averted. Bob Anderson,<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=65761&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Transportation</primary_category><primary_category_link>http://business.time.com/category/companies-industries/transportation-companies-industries/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/01/drought.jpg?w=240</featured_image>
		<media:thumbnail url="http://timebusinessblog.files.wordpress.com/2013/01/drought.jpg?w=240" />
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			<media:title type="html">Mississippi</media:title>
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		<media:content url="http://1.gravatar.com/avatar/d88247e41871fc555c4a2747167091d2?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">jsanburn</media:title>
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		<title>Small Towns Get Boost From Oil, Gas as Wealth Shifts Away From Cities</title>
		<link>http://business.time.com/2012/11/28/small-towns-get-boost-from-oil-gas-as-wealth-shifts-away-from-cities/</link>
		<comments>http://business.time.com/2012/11/28/small-towns-get-boost-from-oil-gas-as-wealth-shifts-away-from-cities/#comments</comments>
		<pubDate>Wed, 28 Nov 2012 13:00:03 +0000</pubDate>
		<dc:creator>Josh Sanburn</dc:creator>
				<category><![CDATA[Agriculture]]></category>
		<category><![CDATA[Companies & Industries]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Energy]]></category>
		<category><![CDATA[Oil]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=62253</guid>
		<description><![CDATA[The Great Recession hit small towns hard. Many saw factories close and jobs dry up. But according to a new analysis, small-town America is actually experiencing an economic revival thanks to an oil and gas boom. According to government data analyzed by USA Today, inflation-adjusted income has increased 3.8% per person between 2007 and 2011 for the roughly 50 million Americans who live in small cities, towns, and rural areas. Compare that to almost the same percentage drop (3.5%) in metropolitan areas, and a shift in wealth begins to emerge, one flowing from cities to rural regions. (MORE: Why the Fiscal Cliff is the Wrong Thing to Worry About) The trend is especially strong in places that participated in the recent boom in oil and gas. North Dakota, for example, quickly became the country’s No. 2 oil-producing state over the last several years thanks to a discovery of shale gas there. North Dakota’s unemployment rate also currently sits at 3%, by far the lowest in the U.S., and that dynamic has played out across the country. The states with the lowest unemployment rates are in the middle of the U.S. Along with North Dakota, Nebraska, and South Dakota have unemployment rates below 5%, while Iowa, Utah, and Wyoming have rates just above that mark. U.S. metropolitan areas, meanwhile, have had a much harder time coming back from the recession. Per capita income in Manhattan, for example, decreased by 5.3% since 2007 to $121,301. In Marin County, Calif., it dipped by 13.3%. (Unemployment rates in New York and California are some of the highest in the U.S.) (MORE: Wall Street&#8217;s Bet on the Fiscal Cliff) In Teton County, Wyo., one of the most affluent areas in the country for years because of its low taxes and numerous outdoor activities (it&#8217;s home to Grand Teton National Park and Yellowstone National Park), incomes decreased by 28.8% to $95,861. But next door, in South Dakota’s tiny Sully County, incomes have risen an amazing 70.4% to $116,067. While South Dakota hasn’t seen the kind of oil boom<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=62253&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Economy</primary_category><primary_category_link>http://business.time.com/category/economy-policy/economy/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/11/wp_148057258.jpg?w=240</featured_image>
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			<media:title type="html">image: An oil drilling rig at dusk near New Town, North Dakota on June 29, 2012.</media:title>
		</media:content>

		<media:content url="http://1.gravatar.com/avatar/d88247e41871fc555c4a2747167091d2?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">jsanburn</media:title>
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		<title>The Pessimist&#8217;s Guide to Surviving the Fiscal Cliff</title>
		<link>http://business.time.com/2012/11/13/the-pessimists-guide-to-surviving-the-fiscal-cliff/</link>
		<comments>http://business.time.com/2012/11/13/the-pessimists-guide-to-surviving-the-fiscal-cliff/#comments</comments>
		<pubDate>Tue, 13 Nov 2012 16:13:49 +0000</pubDate>
		<dc:creator>Michael Sivy</dc:creator>
				<category><![CDATA[Bonds]]></category>
		<category><![CDATA[Currency]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Economics & Policy]]></category>
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		<category><![CDATA[The Economy]]></category>
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		<category><![CDATA[Wealth]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=60873</guid>
		<description><![CDATA[Optimism has been growing that Democrats and Republicans will be able to reach a budget deal that brings the deficit down to a sustainable level while avoiding a recession. A lot of investors appear to be skeptical, though, judging by the fact that the Dow has declined 473 points since President Obama won re-election. I&#8217;m skeptical too. A compromise may be achieved that avoids the drastic spending cuts and sizable tax increases scheduled for next year. But it&#8217;s hard to see how the economy will be able to achieve better than sluggish growth, accompanied by the risk of rising inflation. The problem is the math. If a country runs a deficit (as a percentage of GDP) that is equal to its growth rate, the debt level will remain constant. This year U.S. GDP will be a little less than $16 trillion, and its historical growth rate is 3.25%. That works out to what we might call a &#8220;safe&#8221; deficit of $520 billion, or even $600 billion if you allow for a little inflation. Last year, however, the U.S. deficit was $1.1 trillion — or roughly $500 billion too much. That gap could be closed by ending all tax cuts, tax breaks and stimulus payments for everyone, according to the Tax Policy Center. But two-thirds of the burden would fall on the middle class — something both political parties want to avoid. All the proposed tax increases on the wealthy, however, even combined with the end of the payroll-tax cut, would raise only $295 billion. So unless there were spending cuts twice as big as the ones currently scheduled, the deficit would still be too large. (MORE: Will Obama Make Wall Street Pay for Its Support of Romney?) Some people have proposed forgetting about the deficit until the economy is growing robustly. But there is a limit to how much more debt the U.S. can safely take on. The National Bureau of Economic Research calculates that debt greater than 90% of GDP slows economic growth. And at the current rate, within four years the U.S. will<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=60873&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Investing</primary_category><primary_category_link>http://business.time.com/category/wall-street-markets/investing-wall-street-markets/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/11/fiscal.jpg?w=240</featured_image>
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			<media:title type="html">House Speaker Boehner Holds News Conference On Impending Fiscal Cliff</media:title>
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			<media:title type="html">michaelsivy</media:title>
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