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Who s to blame for $4 gas

Posted on May 20, 2008

I'm as angry as the rest of you. I filled the tank on the family minivan this morning: $85. CNN asks why gas prices are high and gives some nice explanations:2004: Demand pressure2005: Katrina2006: Mideast political instability2007: Lack of non-Opec production2008: Speculative bubbleNot unreasonable, but I just want to make two points... There's no mention of the long-term price trend. The graph to the right gives the 6 year monthly average for U.S. gas from gasbuddy.com. There is a distinct upward trend in prices since 2002 (and even further back, but the gasbuddy data doesn't go ...

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economic models , gas , tax , taxes