We must ask the question: Why the silence of the University of Chicago?  Yes, Good Morning America's annual boycotting of UCAN's annual Big Oil Hog event is predictable, but the stewards of the "Chicago School" of econmics are notable in their lack of commentary on the the Big Oil Hog's amazing predictions. Could it be academic jealousy of the predictions made by the ultimate capitalist swine? More.

Step aside Punxatawney Phil, in San Diego it isn't about Groundhog Day, it's Oil Hog Day. At 11:07 AM today, the Big Oil Hog will appear at On the Go Gas in El cajon. If the Oil hog sees his shadow, watch out! It could mean six more months of higher gas prices! Since 2005, the Big Oil Hog has had a 100% record of accuracy in predicting major movements in oil and gas prices, including the skyrocketing prices of $4.60 a gallon in 2008, and the complete collapse of gasoline prices before the 2006 mid-term elections. More.

This morning the San Diego Union-Tribune quoted UCAN in a lead story in its business section as saying “It’s very unlikely we’ll see gasoline below $3 for the next nine months."  The reason is that the market is not being driven by supply and demand, rather inventories are being controlled and manipulated by oil companies that are using at least five different methods to manipulate the market price of gasoline. Full Story.

In "Economics" prices for goods and services, such as oil and gasoline, are set by the immutable laws of Supply and Demand, where the competitor who brings the most to the market for the least amount of money is the winner (think Walmart). Unfortunately, the "economics" theory does not predict price movements accurately for commodities that are  being manipulated. For this, we need to understand the relatively new discipline known as "gougeonomics." In a gougeonomy, the player who brings the least amount of power to the market at the highest price wins. Learn more about gougeonomics.

UPDATED Monday, September 28: Contrary to what we published on Friday, gasoline prices in San Diego dropped over the weekend after we predicted a sharp increase. More.

  SKY HIGH ... Just as we predicted, gas prices have climbed past the $3.10 a gallon mark, setting a new record for 2009. DETAILS.

On August 9 the lead story in the Union Tribune Business Section was about high gas and oil prices. The story closed with a quote from me that said " ... the problem is the low supply of surplus gasoline, which drives up prices."  But don't think for a moment that supply and demand are responsible for oil prices.  There is more to the story.