Wednesday, May 23, 2007

So Why Is Gas So Damn Expensive?

Well, actually its not. One gallon of gas does the work of one adult male working for six weeks (pretty cheap for the cost of $3) but for the purpose of this publication I'll be discussing the recent price rise relative to the historic price of gasoline.

During the Christmas shopping season of 2001, Americans were paying, on average, just a few pennies over 1 dollar for each gallon of gasoline they used to cruise from the shopping malls to their office parties. Today the cost of our favorite fuel has soared to an historic height above any previous price, $3.22/gallon as I type. The now-broken record of $3.15 (adjusted for inflation) was set back in March of 1981, six months into the Iran/Iraq War. And we saw really high prices again in the autumn of 2005, after Hurricane Katrina beat up on the Gulf Coast and a large amount of our oil infrastructure concentrate in that part of the country. But this time there has been no new supporting crisis...

Read the rest of this HERE.

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