Originally posted by ouachitabassangler:
While I remember gas wars at 19 cents a gallon, I also remember at the same time having $5 in my pocket after bills was a miracle.
I inherited a homeplace that cost $20 an acre in 1956, the 3 BR house built then for nearly $10,000, sold recently for almost $130,000. If you earned $6,000 a year then you were a lender. If making that now you're a borrower.
Gas prices are not nearly in step with inflation since those days. Perpare for $4 a gallon, eventually $5-$6 to catch up with Europe. We're competing with China for fuel now, it's billion people at last able to afford cars and gas to move them, and more than willing to pay the price. The gas will be taken wherever people are willing to pay for it. That's all the more reason to develop our own massive oil reserves more and pass laws preventing its export. We have the technology now to prevent fouling the earth pumping and piping it, or play games with hyper "ecologists" and end up with wind-driven sail cars.