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Within the last decade, I remember paying 85¢ per gal. on a fill-up.
I agree w/you prices are still outrageously high. Somehow though, people (Wheee The Sheeple) seem to be getting used to it.
If it were up to me, we'd immediately cut the price of gas significantly by slashing all the state & federal taxes on gas—which comprise a huge chunk of the retail price you pay. Heck, I think the federal tax should be eliminated entirely; this is NOT an area the FedGov has any Constitutional business in.
Then, to truly allow oil companies to meet consumer demand and sustain a ready supply over the long term, I'd ignore all those flippin' commie treehuggers and drill away! Explore, extract, and refine what we've already got!
Why does Saudi Arabia produce more oil than we do? 'Cuz they don't have the d*mn hippies standing in the way of their energy development! We are blessed with far more natural energy resources than S. Arabia, Mexico, Venezuela or anyplace else. Yet with our tiny cadre of enviro-religious zealot kooks, we can't even drill ANWR or parts of the Gulf shore, and we haven't been allowed to build any new refineries since the '70s
Until enough Americans get really fed up and angry about all these stoooopid policies, I reckon we'll just have to live with $2.65/gallon gas
I know, that's what worries me...we're getting used to it, then what? What will be outrageous tomorrow..frankly, I'd rather ride my horse
Did you not take a look at the chart I posted early in this thread? Do you see how the price of gasoline started rising just literally a few months before the year 2000 election, and it has been trending upward ever since. Very interesting? Granted, the same charts also show that today's nominal price for gasoline does not yet approach the real price (in constant dollars adjusted for inflation) heights for gasoline that were reached a couple of decades ago.
Yes I did. Excellent post by the way....at least you are showing some data and it's even adjusted for inflation which is even better.
However, as you noted the prices started increasing a year or so BEFORE Bush took office. I stated in a post after your graph that this happened before....during the Carter administration which at that time was caused by a supply issue. (I think everyone here agrees on this point?)
Now, google China oil consumption....it's been all over the news for a number of years. China's big boom also has pushed up the prices of steel and copper among other resources.
Additionally, US oil consumption has gone up quite a bit too.
Your graph does not adjust for any supply\demand forces.
Like I said - I just want my wages indexed to the 'real" inflation that includes the prices of bank interest, food and energy in the calculation. Then 3-5% raises wouldn't be so meaningless. I would like my standard of living to be independent of inflation. The income tax structure should also be adjusted to keep (or return) the progressively of the early years of the tax.
Like I said - I just want my wages indexed to the 'real" inflation that includes the prices of bank interest, food and energy in the calculation. Then 3-5% raises wouldn't be so meaningless. I would like my standard of living to be independent of inflation. The income tax structure should also be adjusted to keep (or return) the progressively of the early years of the tax.
Could you share where you think the current CPI is wrong as a measure of inflation?
Since an index is an average it will affect individuals differently. For example let's say that coffee prices double this year....I don't drink coffee so I see 0% inflation while someone else may drink a lot of coffee and are hit harder.
Same goes for gas, I use 400-500 gallons a year for my total household. Others will use 2-3x that.
Should a person that drinks a lot of coffee and drives 150 miles to work in a suburban every day be given a larger raise because the CPI doesn't match that individuals costs? This is one problem with indexed raises.
Now, google China oil consumption....it's been all over the news for a number of years. China's big boom also has pushed up the prices of steel and copper among other resources.
Please comment on these points.
What I see is that these effects with China and her expanding economy are largely the result of decisions taken by large companies in the West to source production in areas of the World with cheap labour, well we all know that, I can hear you say.
Companies are 'companies of people' the name is not an icon, repsonsibilty goes two ways, workers and consumers are part of the company and time will tell if the managment has respected their responsilities or whether they have been blinded.
The point is the technology was a development of centuries of industrialisation in the so called West. This priceless legacy was unloaded for profit short term.
We have only ourselves to blame for the industrialisation of China.
What I see is that these effects with China and her expanding economy are largely the result of decisions taken by large companies in the West to source production in areas of the World with cheap labour, well we all know that, I can hear you say.
Companies are 'companies of people' the name is not an icon, repsonsibilty goes two ways, workers and consumers are part of the company and time will tell if the managment has respected their responsilities or whether they have been blinded.
The point is the technology was a development of centuries of industrialisation in the so called West. This priceless legacy was unloaded for profit short term.
We have only ourselves to blame for the industrialisation of China.
What I see is that these effects with China and her expanding economy are largely the result of decisions taken by large companies in the West to source production in areas of the World with cheap labour, well we all know that, I can hear you say.
Companies are 'companies of people' the name is not an icon, repsonsibilty goes two ways, workers and consumers are part of the company and time will tell if the managment has respected their responsilities or whether they have been blinded.
The point is the technology was a development of centuries of industrialisation in the so called West. This priceless legacy was unloaded for profit short term.
We have only ourselves to blame for the industrialisation of China.
OK so I should have added the boom in China has caused the increase in oil consumption.
why have gas prices gone up 10 cents? In the last week gas prices shot up 10 cents, there werent any hurricanes that I heard about, what is the excuse this week for the stockholders/traders/oilpigs of why gas has gone up?
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