Paul Tegler wrote:
>
> ..have ta' step in here.....
> we in the US complain about gas prices....
> at a buck to a buck and a quarter a gallon....
> compare that to Europe! some countries pay as much as
> (equivalent) $3.75 a gallon
> What are we complaining about!
>
There is a real economic danger here. The Arab oil embargo in 1972 set
off a sustained bout of inflation that didn't really get back under
control until the late '80s. Energy is used *everywhere* in the economy.
Small changes in price get magnified all through the chain. At the same
time, families lose disposable income because they're spending more for
gas. Corporate profits drop because they pay more and sell less. It gets
really ugly in a hurry.
Have any european members seen a 10-15% rise in gas prices?
Regards,
Dave Ambrose
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