Bending the Third Rail
Because We Should, We Can, We Do
Thursday, March 22, 2007
Gasoline Watch
I don't know about where you live, but here in Sonoma County regular unleaded gasoline is running about $3.10/gal.

I remember last year when gasoline hit $3.00. There were news stories galore, hybrids were selling like hotcakes, the buzz was about high gas prices.

I'm not seeing that. Adaptation to the $3.00 level has happened. We're now going to need prices above $3.50/ gal. to become newsworthy again, which is highly possible this summer. This is yet another drag on the economy and at the same time, inflationary. I never wanted to economically relive the late 70's and 80's, but it appears that this is exactly where we're headed. You just can't have guns and butter with an outside-the-economy factor exploding in price. The last leg to fall on a economic stool is employment, which has been tepid at best. Put another way, despite Bush's belief you can't repeal the rules of economics.
Written at 12:27 PM by Greyhair.
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