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I see Cato's 'defense' ignores inflation conversions --- 1960 to 2008 ... complete with an elaborate per capita and median income analysis with charts and graphs they prove that ink and paper can prove anything but relevancy. no wonder we are in such a mess ---
Greybeard @ 8:03 PM PDT, Aug 13, 2008
IF you can remember the 60s then you wern't born yet..
Al V. @ 7:46 PM PDT, Aug 13, 2008
CATO's response (linked below) using median household income to calculate gas affordability neglects the fact that there are far more two income families now as compared to 1960. If everything doubles in price relative to 1960, but two people work verses one, then everything will remain equally affordable using this metric. The fact that it remains equally affordable using this metric, despite the change from one-worker to two-worker families indicates that gas is twice as expensive. Comparing gas prices to median income per worker would show this (if such data was available).
Try again CATO @ 4:31 PM PDT, Aug 13, 2008
You conservatives just don't understand that gas needs to hit $10 a gallon so all you idiots with SUV's will finally learn that its more important to get off gasoline and onto alternative energy. Like Harry Reid said, oil is making us sick. Lets replace oil with solar and wind electricity, replace plastic with wood, and stop killing Mother Guya.
Stewpididiot @ 4:10 PM PDT, Aug 13, 2008
While folks are right to point out that MPG was (somewhat) different in the sixties verses now, it does not change the fact that the premise of the article is that *GAS*, not gas per mile is cheaper than it was in the sixties. It is a false statement to say that gas (not the cost of gas per mile) is cheaper now than it was in the sixties, yet that is exactly what this article says.
To clarify @ 3:48 PM PDT, Aug 13, 2008
One of the authors responds to the comment board: http://www.cato-at-liberty.org/2008/08/13/gasoline-affordability-reconsidered/.
Jerry Taylor @ 3:42 PM PDT, Aug 13, 2008
HAVE ZERO IDEA WHAT THEY ARE TALKING ABOUT. U.S. NEEDS OWN ENERGY SUPPLY. WOULD BOOST OUR OUTGO TO FOREIGN COUNTRIES & REDUCE DEPENDENCE ON FOREIGN COUNTRIES & THEIR POSSIBLE FUNDING OF TERRORISTS.
migtex1234 @ 3:38 PM PDT, Aug 13, 2008
It just goes to show you that statistics can be made to say anything you want them to. Well, I have news for these clowns! 1. My personal income is NOT going up, it's going Down! 2. In 1970, I could fill my tank with pocket change. Now I can't even buy a gallon of gas for the change in my pocket. 3. It costs me a days wages (or more) to fill up my gas tank. In 1970, a days wages were considerably more than pocket change. 4. So by my statistics, we're getting screwed by the "do-nothing" demoncrats and their "tax-em MORE" communist socialist policies. THEY GOTTA GO - STARTING WITH PELOSI and REID!!!!
Tnetcenter @ 2:52 PM PDT, Aug 13, 2008
A minimum wage worker in early May 2006 had to labor for 11.2 hours on average to fill a 20-gallon tank of gas, up from 5.5 hours in March 2001. That is an increase of 104.9%. Minimum wage in 1963 $1.25 .... gas .29 cents a gallon.If my math is right it took 3.86 hours to buy 20 gallons.Today gas $4.06 20 gallons $81.20 min. wage $6.55 12.39 hours to fill. To some it may not be a burden, but to many it's become a ever greater % of earnings. Without adding in the higher cost for any item produced,manufacted,shipped using oil. Numbers can be found and tweaked to give you about any desired result you want to find. Just look in your wallet.
Oh Really? @ 2:50 PM PDT, Aug 13, 2008
Oil companies say the high prices are due to not enough refineries to process the oil that we currently have, yet with record profits no new refineries are being built. If we do not have the facilities to refine oil we already have, how will more drilling do anything to alleviate the problem?
teleplayer @ 2:00 PM PDT, Aug 13, 2008
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