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2022-07-12 Economy
Letter To The Editor: Is Gasoline Really Expensive?
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Posted by Besoeker 2022-07-12 00:00|| || Front Page|| [11130 views ]  Top

#1 People do not inculcate the true value of a gallon of gasoline. Think of the $5.50 per gallon you pay for it this way. A gallon of this liquid will move your car at least (reasonably speaking) 20 miles along the road for that $5.50. Now imagine being asked to physically push your car 20 miles farther down the road. You bet your life you'd be demanding far more than $5.50 to do that work. Pushing your car 20 miles is a hell-of-a-lot of effort. Far more than 90% of humans would be even capable of doing. In fact for most humans it would take multiple days in order to push that car 20 miles. The BTUs encapsulated into that liquid is totally under appreciated. Gasoline will still be "valuable" even when its up around $100 per gallon. For those unfamiliar with oil, its NOT proven reserves, NOR is it production rates that really determines its market value, its the hidden "depletion" rate of "currently known" reserves that is kept undisclosed from the public eye that determines where future price trajectories lie. I recommend everyone becoming more familiar with the 2nd law of Thermodynamics. Entropy is highly under-appreciated. Its what underlies our understanding of what we often describe as "civilization."
Posted by OspasDhahran 2022-07-12 03:11||   2022-07-12 03:11|| Front Page Top

#2 Gasoline in 1965 = .21 cents per gallon.

New Ford 6 cylinder, standard transmission pickup in 1965 = $1700.

You decide.

* Gov't and trade union discussions anyone ?


Posted by Besoeker 2022-07-12 04:41||   2022-07-12 04:41|| Front Page Top

#3 Price in 1964 was approx 0.25$/gal. Melt value of a pre '65 quarter (90% silver) is approx $3.44 @ $19.00/oz silver presently. Silver is running a bit below the recent averages. If you go with $24/oz that quarter would be worth about $4.34.
Posted by BrerRabbit 2022-07-12 05:01||   2022-07-12 05:01|| Front Page Top

#4 ..to which I say its not inflation but debasing the currency. It's not so much things cost more but that your money is worth less. That's what happens when the treasury prints/creates money without backing.
Posted by Procopius2k 2022-07-12 07:17||   2022-07-12 07:17|| Front Page Top

#5 Mr. Hendrix is like a lot of the left, a 'JoePoligist©'.
Posted by Mullah Richard 2022-07-12 07:50||   2022-07-12 07:50|| Front Page Top

#6 
I must be older than a few of y'all.

My gas cost 16.9 cents (GA) in 1969-70.
I used to walk the ditches picking up soda bottles all after school for the 2 cents return deposit. For my well used and bondo'ed to hell and back Ford Falcon 1963 6cly with a large big seat ☺

Which was used for Friday night date night, driving/parking and $1 for 2 hamburgers and a Large Coke.☺

Using a popular website inflation calculator.
What was 16.9 (17 cents) then for gas, today, should only be paying $1.26 a gallon

What was 12 cent for a tall Coke in 1970 should only be $0.89

AARP has some 1980 to 2020 price comparisons.

Posted by NN2N1 2022-07-12 08:44||   2022-07-12 08:44|| Front Page Top

#7 

Overall, I walk away having read the Hendrix article thinking the LSD's know Gas prices are killing them in the Voter Polls. So deflect the facts with unrelated facts.
Posted by NN2N1 2022-07-12 08:46||   2022-07-12 08:46|| Front Page Top

#8 More like, "Be glad your local muni authority does not charge Evian prices for a gallon of water."

This whole thing is an old argument which Mr. Hendrix got from somewhere else. He didn't come up with it himself.
Posted by M. Murcek 2022-07-12 08:49||   2022-07-12 08:49|| Front Page Top

#9 #6 except back then you used silver quarters, dimes, and half dollars. That's the point of #3.
Posted by Procopius2k 2022-07-12 09:04||   2022-07-12 09:04|| Front Page Top

#10 Because no one has ever debased actual metal coinage!!!
Posted by Rob Crawford 2022-07-12 12:36||   2022-07-12 12:36|| Front Page Top

#11 ..which we carry with us today in the form of alloys rather than the original. They can't keep up in the smallest denomination.
Posted by Procopius2k 2022-07-12 13:05||   2022-07-12 13:05|| Front Page Top

#12 You mean "rednecks complaining about high prices".
Posted by swksvolFF 2022-07-12 14:46||   2022-07-12 14:46|| Front Page Top

#13 Used to get 1-5 cents for coke bottles I picked up, now get several dollars a month on my garbage bill to get rid of them...
Posted by Glenmore  2022-07-12 16:37||   2022-07-12 16:37|| Front Page Top

#14 I don’t drink 25 gallons of Evian every 3-4 days. And I certainly don’t drink 200 gallons on a work trip on the road.
Posted by Lowspark 2022-07-12 21:35||   2022-07-12 21:35|| Front Page Top

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