This chart is for anyone out there who still believes that gasoline prices are rising solely because the big oil companies are ripping us off. The chart above depicts the price of gas (in red) vs. the price of crude oil (in blue) since July 2002.What is striking about the figures (other than the the fact that a barrel of oil was only about 25 bucks less than six years ago) is the dramatic recent upward arc of oil prices and how gasoline has thus far failed to keep pace. If the two had remained true to their historical comparative norm, we'd already be paying about $6.oo per gallon for gas.
Peak Oil. It's not just a wacko, left wing looney theory anymore.
4 comments:
Great chart- now I finally have something to whip out during the mind-numbing "OMG we are paying sooooo much and they are just taking all our money- gas SHOULDNT be 3 bucks a gallon!!!" conversations.
-Alecia
Thanks. I'll admit I was a bit astonished myself.
Well, this exactly says why big oil INDEED rip us all off...
Last time when oil price was at $70/b, the gas price was around $2.70/g. Now the oil price back to %70/b from its high like $148/b, guess what, you need to pay $3.05/g...Why the hell, we pay 30cents more???
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