One of the fringe benefits of being a graduate student is the ability to justify pursuing one's own interests under the guise of scholarly research.
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So I've collected and inflation-adjusted (2004 = 1) the US national average gas prices (from the Bureau of Labor Statistics) for every month dating back to January of 1980. Let's take a gander.
Now, if you are un-American and possibly a terrorist, you might notice that the current large spike and the most recent spike before that (late 1990) coincide with our invasions of Iraq.
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If, in addition to being a terrorist, you are also a pinko child molestor, you would also note that gas prices skyrocketed under George W well before 9-11-01, which is basically the administration's catch-all excuse for everything pejorative that's happened on their watch.
So not only are we currently paying twice as much for gas as we were a decade ago, but when the late summer / Labor Day prices hit $3.00 per gallon in California (where regular gas is already over .
30) and the east coast, we can look forward to hearing the White House explain how this is the fault of Bill Clinton and the liberal media. And with the price of Light Crude oil hitting an all-time high of $41 late last week, I would love to hear a cogent argument as to why this price escalation is not going to continue throughout the upcoming peak consumption period.
There is obviously only one solution: abstinence and more tax cuts.
mike says:
I love how the line to tow is that "but they still haven't reached the all-time high as during the Carter administration…."
As if a two month period 25 years ago is supposed to make consumers any less hit-up at the pump or SUVs less prevalent right now. Or the demand from China/India, which isn't going to go away, any less.
kat says:
the current price in california averages $2.50. bah.