In today’s issue of the daily, Mayor John Fogg says “the rising cost of fuel, which the city did not plan for, was a big reason for the increase”.
How could the City staff underestimate the cost of fuel? The US Dept. of Energy predicted last year: “As of May 2006, EIA expects that national average retail diesel fuel prices will hover around $2.70 per gallon through 2006 and 2007, primarily due to the forecast for the price of West Texas Intermediate crude oil to average about $68 per barrel in 2006 and 2007.”
Gulf Coast average is $2.65/gallon – which is at its highest since new budget year started on Oct. 1, 2006. Crude oil $60/bbl.
The City needs to get out of the garbage business.
