-Caveat Lector- <A HREF="http://www.ctrl.org/"> </A> -Cui Bono?- STATEMENT OF JAY HAKES ADMINISTRATOR, ENERGY INFORMATION ADMINISTRATION DEPARTMENT OF ENERGY BEFORE THE ENERGY AND NATURAL RESOURCES COMMITTEE U.S. SENATE JANUARY 28, 1999 Testimony to the Senate Energy and Natural Resources Committee January 28, 1998 By Jay Hakes, Administrator Energy Information Administration U.S. Department of Energy "I wish to thank the Committee for the opportunity to testify today on the state of the petroleum industry, which is experiencing unusually low crude oil prices. Gasoline Prices Lowest Ever (Figure 1) Today, the cheapest liquid you can buy at a service station is gasoline. Figure 1 shows that in 1998, consumers enjoyed the lowest gasoline prices in inflation-adjusted terms since 1942, and possibly the lowest ever. Regular gasoline prices averaged only $1.03 in 1998, but this obscures the fall off at the end of the year. In November and December gasoline prices averaged less than $1.00 per gallon ($0.995 and $0.945 per gallon respectively), and the latest weekly Energy Information Administration (EIA) data shows them at $0.936. This is about $1.33 per gallon less than we paid in 1981 in inflation-adjusted terms, and $0.37 cheaper in nominal terms. That 30-cent-per gallon gasoline that some people may recall buying in the 1950’s and 60’s is equivalent to about $1.50 in today’s dollars." Note: The entire testimony is available at: http://www.eia.doe.gov/neic/speeches/senate/senate.html ____________________________________________________ On the date of Mr. Hakes testimony, Jan. 28, 1999 he said the price of gas was 93.6 cents. It continued on down to 90.4 cents which was the all time low as reported by DOE on Feb. 22, 1998. This was 8 days after the Senate acquitted Bill Clinton of the impeachment charges. Just 2 weeks later, gas prices started back up. Prices have continued to increase to the present time. The latest DOE Report states the average price for Unleaded Regular is $1.50 per gallon. (National average) So in the 13 months since Clinton was acquitted, gasoline prices have increased 60 cents per gallon, and they are going even higher. Nakano <A HREF="http://www.ctrl.org/">www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are not allowed. Substance�not soap-boxing! These are sordid matters and 'conspiracy theory'�with its many half-truths, misdirections and outright frauds�is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRL gives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://home.ease.lsoft.com/archives/CTRL.html http:[EMAIL PROTECTED]/ ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
