Technology & Innovation — June 27, 2011

How Gasoline Prices Are Formed

Think the U.S. can drill its way out of expensive gas? Think again, says The Atlantic. Derek Thompson explains what goes into the price of gasoline and why is it suddenly rising so fast.

bigthinkeditor

What’s the Latest Development?

With soaring gasoline prices putting additional burden on an economy that’s recovering from a housing bust, credit crunch, and deep recession, Derek Thompson decided to look at what goes into the price of gasoline at the pump and why is it rising so fast all of a sudden. The main pricing components are state and federal gas taxes, distribution and marketing, refining, and the price of crude oil.

What’s the Big Idea?

The price of crude oil has nearly tripled in the last seven years. In 2004, when the average price for crude oil was $37 per barrel, crude composed only 47 percent of the price of regular gasoline. Today, crude is closer to $111 per barrel and accounts for two-thirds of the pump price. To find out why, Thompson spoke to energy experts, who said supply and demand was the main factor but others were the Middle East, the weak dollar, summer, and speculation.

A composite image of the milky way galaxy showing colorful interstellar dust and gas with star fields.

Strange Maps

New map reveals the Milky Way’s magnetic heart

This first-of-its-kind image offers a detailed look at the magnetic fields within the Central Molecular Zone.

Monochrome portrait of a smiling man with short hair, framed by abstract patterns and images of chess pieces, symbolizing strategic boss feedback.

Business

A great blueprint for dealing with terrible bosses

30 years ago Jim VandeHei — co-founder and CEO of Axios — got leadership feedback all wrong. Now, he has the ideal blueprint so you can get it right.

X-ray style image of a human head with brain highlighted by luminous, branching electric currents made of particles against a dark background.

Starts With A Bang

Can the known particles and interactions explain consciousness?

At a fundamental level, only a few particles and forces govern all of reality. How do their combinations create human consciousness?

A person in a karate gi breaking a brick with a hand strike, demonstrating the physics of karate, superimposed on a background of mathematical equations and graphs.

Hard Science

Karate physics: How your hand can break concrete without breaking itself

A human hand has the power to split wooden planks and demolish concrete blocks. A trio of physicists investigated why this feat doesn’t shatter our bones.

An American flag and a decorative shield with a peace symbol, evoking a sense of paranoia, in front of the United States Capitol building under a cloudy sky.

The Present

Is the U.S. becoming more paranoid?

Although social paranoia is more common than clinical paranoia, studies suggests that American society isn’t any more conspiratorial than it has been in the past.

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