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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (261674)11/22/2005 3:43:01 PM
From: tejek  Read Replies (1) of 1573092
 
Not that $60 oil is way out ahead of the long term inflation adjusted price for oil. At its 1980 peak oil cost close much more per barrell (in inflation adjusted dollars) and it also cost a lot more in the early days of large scale oil use back in the 1800s. But $60 is towards the high end of its historical range and is high enough, if the price is sustained, to cause some changes that reduce the need for oil.

Yes, its true......not until oil hits $90 per barrel will it be equivalent to the 1980 price when factoring in inflation. However, that's not the problem. The problem is that oil has managed to go from less than $20 to $60 in less than 3 years. That's considered inflationary and presents a real problem for American industry trying to maintain its competitive edge. Its presents a real problem for the consumer who has seen the price of gas at the pump go up nearly 50% this past year and are watching their NG bills skyrocket this winter.

And yet, you assert [in a prior post] that making cars fuel efficient to 50 mph should not be a national goal and part of national policy. To be frank, I am real tired of such near sighted observations particularly in light of the fact that you all want to drill for oil in our national parks and off our coasts.

The GOP party has become true to its roots.....maintaining the status quo at almost any cost while remaining superficial and reactionary. We can't afford you guys.
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