April 28, 2006

Gas Prices

I just saw on MSNBC that gas prices in New Jersey jumped $.14 over night. They showed a clip from the 1974 hearings on the gas crisis where they said that in that year oil climbed to $10 a barrel. According to an inflation calculator I found online, that's about $41 in 2005 dollars. Oil barrels are at about $71 now. Another clip showed Tom Brokaw saying that the highest gas prices were in Hawii, where gas topped out at $1.02/gallon, which is about $4 in 2005 dollars.


MosBen said...

Of course, that could be related to proximity to oil reasources and population density. Wyoming has quite a bit of oil in it and reletively few people. Somewhere like Seattle is reletively close, compared to the rest of the country, to Alaska but has higher demand due to higher population. Somewhere like New York is not close to a source of oil and has high population.

I don't know, that's just the thought off the top of my head. I doubt there's some kind of massive conspiracy to save the midwest money at the gas station.

MosBen said...

Interesting maps though.

MDBINID said...

The only reason politicians will not work to lower gas prices is because they do not have to pay for it themselves - we pay to fill the gas tanks of their gas guzzlers. Enough said