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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Bearcatbob who wrote (42028)4/15/2005 9:09:30 PM
From: Tommaso  Read Replies (2) of 206326
 
One more piece of arithmetic.

If gasoline was selling for under a dollar a gallon not so long ago, that must have included the costs of refining, distribution, retailing, and taxes.

Let's say those costs now are $1.25 a gallon in the United States.

There are 42 gallons in a barrel of crude. If the fraction of that barrel that goes into gasoline costs $2.00, as it would if gasoline at the pump were $3.25, then crude would be at $84. With gasoline at $4.25, crude could be at $126 a barrel. As a matter of fact, gasoline now sells for more than that in a lot of places in the world.

Would Americans stop driving if gasoline were $3.25 a gallon?

Would an alcoholic stop drinking if gin cost twice as much as it does?
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