17th May 2004, 4:57 PM
Dark Lord Neo Wrote:$0.88/L
I was watching the CBC the other day and they had an economist saying that gas is actually cheaper to buy now than it was in the 1980's when you factor in inflation, it's just that it was really cheap for a while in the 90's.
It's also not likely that people will stop driving SUV's due to prices because if it doesn't bother them to be driving somthing that depreciates in value at roughtly $1000/month they should worry about the gas being a little higher
Oh yeah.
Numerically, this the highest gas prices have ever been in America. Adjusted for inflation, we're nowhere near the crisis we had back in the late 70s. Plus, we don't have the rationing and the gas lines, either.
All told, it could be much worse. OPEC's production cut has an effect, but it's not the only thing. The Chinese having a much higher demand hurts us too.
Honestly, we should do whatever it takes to secure and exploit any domestic sources we can find. Then, this would not be an issue to the extent that it is now.
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