{"id":760,"date":"2004-03-12T13:04:06","date_gmt":"2004-03-12T18:04:06","guid":{"rendered":"http:\/\/www.brianarner.com\/weblog\/wordpress\/2004\/03\/gas_prices\/"},"modified":"2004-03-12T13:04:06","modified_gmt":"2004-03-12T18:04:06","slug":"gas_prices","status":"publish","type":"post","link":"http:\/\/www.brianarner.com\/weblog\/2004\/03\/gas_prices\/","title":{"rendered":"Gas Prices"},"content":{"rendered":"<p><a href=\"http:\/\/www.tnr.com\/easterbrook.mhtml?pid=1418\">Gregg Easterbrook<\/a> links to <a href=\"http:\/\/oregonstate.edu\/Dept\/pol_sci\/fac\/sahr\/gasol.htm\">this chart<\/a> chart and reminds us that if prices are adjusted for inflation, gasoline is $1.00\/gallon below its all-time high:<\/p>\n<blockquote><p>Another comparison: The average price of gasoline during the 1950s was about $1.80 in today&#8217;s money&#8211;meaning that during the period enshrined in our collective political nostalgia as Energy Heaven, gasoline cost slightly more in real dollars than the amount now being theatrically bemoaned as a &#8220;record&#8221; price. But wait; in the 1950s, per-capita real income was less than half what it is today. That means that for the typical American in the 1950s, gasoline cost twice as much, in terms of buying power, as today&#8217;s gasoline. Adjusted for inflation and for buying power, the purported &#8220;record&#8221;-priced gasoline at your pumps now is substantially cheaper than the gasoline your parents bought.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<a href=\"http:\/\/www.brianarner.com\/weblog\/2004\/03\/gas_prices\/\" rel=\"bookmark\" title=\"Permalink to Gas Prices\"><p>Gregg Easterbrook links to this chart chart and reminds us that if prices are adjusted for inflation, gasoline is $1.00\/gallon below its all-time high: Another comparison: The average price of gasoline during the 1950s was about $1.80 in today&#8217;s money&#8211;meaning that during the period enshrined in our collective political nostalgia as Energy Heaven, gasoline cost [&hellip;]<\/p>\n<\/a>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-760","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-uncategorized","7":"h-entry","8":"hentry"},"_links":{"self":[{"href":"http:\/\/www.brianarner.com\/weblog\/wp-json\/wp\/v2\/posts\/760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.brianarner.com\/weblog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.brianarner.com\/weblog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.brianarner.com\/weblog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.brianarner.com\/weblog\/wp-json\/wp\/v2\/comments?post=760"}],"version-history":[{"count":0,"href":"http:\/\/www.brianarner.com\/weblog\/wp-json\/wp\/v2\/posts\/760\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.brianarner.com\/weblog\/wp-json\/wp\/v2\/media?parent=760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.brianarner.com\/weblog\/wp-json\/wp\/v2\/categories?post=760"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.brianarner.com\/weblog\/wp-json\/wp\/v2\/tags?post=760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}