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Gas is $9 a gallon in the U.K.

This is a milestone of sorts, until a new record-setting price inevitably appears as a result of the accommodative monetary policies of the worlds' central banks and the global mania for curbing carbon emissions. Gasoline has now hit $9 a gallon in parts of the U.K. Can U.S. consumers even imagine a price that high? It wouldn't be too hard to achieve, given the weakness in the dollar, the Fed's super-accommodative monetary policy, the renewed push for a cap and trade regime or a carbon tax to reduce hydrocarbon fuel usage, and the rising ethanol requirements (ethanol being a less efficient fuel).

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