Gas prices are up lately, but…

“Crude fundamentals are dramatically out of sync. At present, supply is still far exceeding demand,” JBC said.

That’s JBC Energy in Vienna. No, I have no idea who they are, but they’re predicting a “temporary downward correction on the horizon for the oil price.”

So, good. Gas is up to about $2.50 a gallon here. I hate that.

On the other hand, higher gas prices bring public demand for new fuel sources, like…oh, just to pick a random example…Alaska. Utah. The Gulf of Mexico. Off the California coast.

Dare I say it? Lake Michigan.

Plus it spurs more investment and interest in alternative sources of energy. All of this is good, in a longer-term view of things.

But on the other hand, higher energy costs are about the last thing our economy needs right now. Well, maybe the second-to-last. It’s in the top five, at least. Or bottom five. Depending on how you look at it.

So, I guess, mixed bag.