A little more fuel for the fire:
https://www.cnbc.com/2019/03/11/us-thre ... r-iea.html
Won't last forever, but that headline brings back memories.
asg70 wrote:Won't last forever, but that headline brings back memories.
"That is good news, is it not? For consumers, certainly, especially those in poor countries whose lives will be improved by the warmth, light and mobility that cheaper energy brings. It would be progress, too, to get away from the notion that oil is scarce—an assumption that led to two decades of energy-policy mistakes, such as subsidising coal and nuclear power."
marmico wrote:1998-1999 were the best years ever for gasoline prices relative to hourly wages - $1.14 per gallon at $13.40 hourly wage or 12 gallons per hour worked in 1999.
2018 was okay - $2.72 per gallon at $22.70 hourly wage or 8.3 gallons per hour worked.
Upwardly adjust 20% for 2018 fuel economy increase relative to 1999 and 2018 is the 1999 equivalent of 10 gallons per hour worked.
https://fred.stlouisfed.org/graph/fredgraph.png?g=nfF1
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