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Why gas is so high.

Posted by Rob Longenecker on April 26th, 2008

People are just now getting it. Oil may be going up but most of  the price increase is because the dollar is going down. The dollar is losing its value. It takes about $1.60 to buy a Euro now. Not long ago the Euro and dollar were equal. If that were still true a gallon of regular would be about $2.30 now.

 Oil_Prices_Medium small.jpg

The Fed has been printing money to keep interest rates down among other things. Check out this video and tell me if you think it rings true for you.

One correction as expressed by another who viewed this video:

“That was pretty good but he got his facts wrong.  The gold standard was removed in 1924, not in the 60s.  At that time, US went to a silver standard with the silver certificates.  It was the silver standard that was removed in the 1960s. 

I was just thinking.  I’m 52.  When I started driving a car, gas was 25.9 cents and my minimum wage job paid $1.60.  Back then, I could fill my 12 gallon gas tank for two hours of working.  Today, it would take a minimum wage worker an entire day’s work, just to fill his tank.  That’s a 400% decrease in spending from hours working.  I don’t make minimum wage any more but after 35 years of training/experience in the work force, I can stiil only fill a 12 gallon tank after two hours of work, just like when I was a 16 year old kid.”

One Response to “Why gas is so high.”

  1. BruceGibson Says:

    It’s crazy. I live out in the country, thirty miles from town, and regular unleaded is $3.689 here this morning. Thursday, it was $3.589.

    The real pain doesn’t appear to be from fuel prices. The hurt comes from the domino effect fuel prices have on everything from freight to farming.

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