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Willisms

« Home Inspection Today... | WILLisms.com | Quotational Therapy: Part 59 -- Rumsfeld On Churchill. »

Trivia Tidbit Of The Day: Part 219 -- Perception Of Gasoline Prices.

What's A Fair Price For Gas, Anyway?-

What is a "fair" price on a gallon of gas, anyway? 1 dollar? 2 dollars? 10 dollars? Americans have come to expect cheap gas. It's their right and the world's obligation to give it to them, whereas in many other industrialized nations, people are not quite as demanding:

fairgasprices.gif

There's clearly a difference between "fair" and "what I would prefer to pay." In Europe, high energy prices are a fact of life. They've been a fact of life for many years. In America, we have gotten a little soft in this regard-- a little spoiled, even.

One wonders how many Americans realize just how cheap their gasoline really is, relative to much of the world.

Interestingly, gas prices and oil company profits beat out pretty much any and all other actual newsworthy news in the public square:

gasoil.gif

Alito? Never heard of him.

Libby? Who is that chick, anyway?

Oil companies making a profit? Yeeeaaaaaaargh!

Source:
AEI.

-------------------------------------

Previous Trivia Tidbit: School Violence.

Posted by Will Franklin · 18 November 2005 09:44 AM

Comments

I paid $2.02 a gallon today, Woo Hoo!

Posted by: Rodney Dill at November 18, 2005 01:45 PM

No way! Where do you live?...

Posted by: Zsa Zsa at November 18, 2005 03:01 PM

Interestingly enough, the exhorbitant cost of gas/petrol in Europe is caused by their countries' high taxes, used to support their social(istic) programs. The media never point out the disproportionate bite that taxes impose on the price.
The do-gooders who imposed the latest tax on oil profits have now passed that tax on to the consumer -- who will blame Big Oil for the price increase.
It's a terrific "game" that the media plays to designate bogeymen. Most journalists don't know Economics 101, and they expect the same degree of ignorance from their readers/viewers.

Posted by: onlineanalyst at November 19, 2005 09:24 AM

Think how Americans would feel if they lived in Mexico where the government owned oil company exports their output to the US where it's sold at lower prices than they sell it to their own people. Whatever gas costs up there it's usually 35-50 cents more per gallon here.

Posted by: bullwinkle at November 19, 2005 11:18 AM

Down to $1.99 and I still never hear anything about Alito...

Posted by: Jeremy at November 19, 2005 07:57 PM

Will,

For a libertarian, I am suprised by your post. It is true American's believe oil should be cheaper compared to Europeans and Candians. However, Americans, Canadians and Europeans pay higher than "market" prices for oil due to the large tax structure at the pump.

The Europeans use this money to prop up mass transit, which is a money loser. One can argue the benefits of mass-transit for pollution and social reasons, but it is important to look at the true economic costs of such policies.

Sure, the oil companies have maximized profits, but oil is still taxed well above its market cost. Higher taxes of course do discourage more of its use.

Thanks for the stats.

Kind regards,

Bill Rice

Posted by: Bill Rice at November 21, 2005 12:59 AM