As I was pumping $5.96 per-gallon diesel into my pickup’s tank the other day, I marveled at how quickly the dollar digits raced by, on the pump’s display. I began to ponder what costs go into each gallon of fuel. This sent me off on a web-wandering search for some relevant data on what drives fuel prices. Most of that can be summed up in one word: Government. Liquid fuels are some of the most highly regulated and heavily taxed commodities in the world. The reasons for this are obvious: They are highly concentrated forms of potential energy. Think of …
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