Shhh- Democrat in office- On This Week In History, Gas Prices Have Never Been Higher

Discussion in 'Politics' started by Neotrotsky, Sep 16, 2012.

  1. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    If you think the White House has a significant effect on the day-to-day price of gas -- Clinton's your man!

    $0.25 in 1919 is about equal to $3.57 in 2011 -- IOW's gas prices, in today's dollars are about the same now as they have been since 1919.

    The question(s) to ask is; why is it that in the last few years we've been awash in gasoline but-----but the price is going up?
    Supply and demand --- WTF?
    And-----and what happened in the year 2000 that caused gas prices to begin to spike up?


    The chart below shows the price movement (based on February 2012 dollars) from 1919-2011.

    [​IMG]Annual gas prices adjusted for inflation 1919-2011. Cost in Feb. 2012 U.S. Dollars.




    From the Eve of the New Millennium

    However, while it’s true that gas prices today are similar to where they were 90 years ago, if you take a closer look at the above chart you’ll notice that from the 1920′s through the end of the 20th century (except for occasional bumps mostly due to world events) prices were steadily declining. Yet as the 20th century turned into the 21st century, gas prices began to spike at an incredible rate — and this time factoring in the rate of inflation did nothing to smooth out the numbers like they did when comparing the $0.25/gallon in 1919 to the $3.57/gallon in 2011.

    The purpose of this exercise is to present the data so people can see where the price spikes occurred just as the earlier data was presented for people to see where it didn’t occur. In order for the data to be as accurate as possible, I’m once again going to use the Consumer Price Index (CPI) from the U.S. Bureau of Labor Statistics to calculate the rate of inflation (some say the CPI is not always the best measure of inflation, but it’s what the U.S. Department of Energy uses).

    [​IMG]Average annual gas prices from 1998-2011.

    Average cost for a gallon of gas in the U.S. between 1998-2011:
    CLINTON YEARS
    1998 — $1.03
    1999 — $1.14
    2000 — $1.49
    BUSH YEARS
    2001 — $1.43
    2002 — $1.34
    2003 — $1.56
    2004 — $1.85
    2005 — $2.27
    2006 — $2.58
    2007 — $2.81
    2008 — $3.26
    OBAMA YEARS
    2009 — $2.35
    2010 — $2.78
    2011 — $3.53
     
  3. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    Shhh-Democrat in office

    Gas prices are higher now
     

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