Wednesday, June 04, 2008

$4 Gas

Just filled up with my first tank of $4 gas. Long time since gas was $.30 and the stations competed for your patronage with freebies. (I guess I'm showing my age.)

When you look at Europe you find $8-$9 gas so I'm not complaining, but I understand the anger of those who have no choice but to put diesel in their 18 wheelers and tractors. As I've said, I think the high prices will dampen demand enough that prices will fall for a good while. But back in the 1970's we thought we were seeing a permanent change in our economy. Turned out that oil was below $20 for several years, before the latest rise.

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