<W: "It's Going to Be a Tough Summer" (and a late night open thread)The Oil DrumAn Economist response, or is it a techie Sunday?>

132 comments on Updating oil price graphs

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Oil CEO on April 23, 2006 - 3:36am Permalink | Subthread | Parent | Comments top
We spend almost double what we did a decade ago on gasoline in terms of percentage of GDP. If this trend continues then gasoline and oil will be expensive if they are not now. The answers to these questions are all relative. Compared to the late 70's and early 80's things are cheap.
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PaulS on April 23, 2006 - 5:11pm Permalink | Subthread | Parent | Comments top
So perhaps the 90s were an anomaly and we're simply back to normal...
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DelusionaL on April 23, 2006 - 9:22pm Permalink | Subthread | Parent | Comments top
Taxes are not indexed for inflation (bracket creep) and this is  reason we are so stressed.  A larger percentage is taken from our checks than in the 70's.  All those gov't programs cost a fortune and the bills are coming due( soon even worse than now) Bend over...
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