[TR] Ruminations

[David Friedlander]

Ken;

I 'love' that. In the '73 Arab Oil embargo, we were told of an 'oil
shortage' which forced the price of gas to double and even triple in a
matter of weeks. Overnight, the Arab sheikdoms became billionaires. Here we
are, forty years later and, somehow, we have an oil GLUT! Now how can that
be??

I'd like to asee a history graph showing the price of a barrel of West
Texas crude vs. the price of a gallon of oil at any given time? Last time
oil was $38.50/barrel, as it is now, how much was a gallon of gas? Makes me
think that even if a barrel of oil was FREE, we'd still pay at least $1.50
gallon, what with all the taxes, fees and whatnot (not to mention dealing
with the ethanol we didn't ask for).

Dave

On Mon, Dec 14, 2015 at 11:59 PM, Home Consolidated <
triumphs at consolidated.net> wrote:

> I saw $1.60 per gallon gasoline recently which got me to thinking.  Has
> gas ever been this low?
>
> An inflation calculator.
> http://inflation-calculator.com/?gclid=CIyppfb83MkCFQuLaQodnV4AOg tells
> me that a buck sixty today is the same as $0.21 in 1962, $0.27 in 1970,
> $0.57 in 1980, $0.90 in 1990, and $1.18 in 2000. I never remember gas
> prices that low. I remember $0.14 for a week or so during a local gas war
> in the early sixties and $0.35 was about right in the early 70's, before
> the first Arab embargo, but otherwise it seems like prices were always a
> lot higher.  In 2005 I remember paying north of $4.00 per on the west coast
> or $4.88 today. I was watching an old tv show (1977) and the station sign
> said $0.609 or $2.13 today.
>
> We must be doing something right.
>
> Ken Gano
>
> Sent from my iPad
>
>
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