George J. Perkins wrote:
>Happened to overhear CNN [...] referred to the fact that gas
prices, when adjusted for inflation, are still lower than they were
in 1981.
They are, but not by much. The record set in March, 1981, adjusted
for inflation is somewhere between $3.13 and $3.22/gallon:
<http://money.cnn.com/2007/05/06/news/economy/gasoline/index.htm>
<http://www.stltoday.com/stltoday/news/stories.nsf/stlouiscitycounty/
story/4C1C6E5F9C251036862572D1003C1BF5?OpenDocument>
<http://www.baltimoresun.com/business/bal-
bz.gas10may10,0,4895583.story?coll=bal-business-headlines>
>We need to be topping $5/gal (or more!) before gas prices really
start to push people into thinking about alternatives like bicycling
and mass transit I'm afraid.
Maybe, but I'm predicting that we'll see acute regional shortages
before we see $5/gallon. I think shortages will get people's
attention in ways that pricing doesn't.
Michael Lemberger
Madison, WI
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