High oil prices cause higher food and energy costs in Middle East countries. Middle East unrest causes higher oil prices. Higher oil prices causes recessions in the U.S. Recessions in the U.S. cause oil prices to drop. Recessions cause more unrest in the world. More unrest in the world causes higher oil prices. Rinse and repeat.
Today’s chart provides some long-term perspective in regards to gasoline prices by presenting the inflation-adjusted US price of one gallon of gasoline since 1980. There are a couple points of interest from today’s chart. For one, Middle East crises are often associated with major swings in the price of gasoline. Also, gasoline price spikes have often occurred prior to an economic downturn. Both those issues are in play today. Middle East instability (e.g. Arab spring) and Middle East tensions (e.g. Iran) are ongoing. Also, the inflation-adjusted US price for a gallon of unleaded is up over $0.50 since the end of June and has rarely been higher than current levels.
IndenturedServant says:
Imagine if our parents had bought say $5000 worth of energy based stocks/mutual funds for each child they had before those children were 10 years old. We would probably be stinking rich by age 65 with almost no effort.
As part of our preps, we should be buying and storing enough vehicle fuel to fill your primary transportation twice. Buy some high quality gas cans with spouts or a hand pump and add the appropriate amount of Stabil. I use mine in yard equipment and the wife’s scooter throughout the year but when the fuel is a year old, begin adding it to your vehicles and replace it as you do. Be sure to store the fuel away from your home in a cool dry area like a shed or other outbuilding.
In our modern, enlightened era of just in time delivery, this may save you hours or even days waiting in line at gas stations in a crisis. With the spectre of war in the ME looming larger everyday, it might also save you a considerable amount of money.
I_S
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21st September 2012 at 1:15 pm
Stucky says:
Goddammit!!!!! This post has nothing to do with either chickens or eggs. Fucking misleading title bullshit.
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21st September 2012 at 1:23 pm
Ron says:
I bought gas yesterday in flagstaff for 3.70,a block down it was 3.89. Give Obama a break,he is trying everything he can to bring the country down.He is only one super Stalin like being.
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21st September 2012 at 1:58 pm
Mick says:
Obama was put in office by the PTB (NWO Banking elite) for the express purpose of destroying the sovereignty of the American citizen, and the US Constitution. Appeal of Florida Ballot challenge filed yesterday to keep Obama off the Florida general election ballot because he is not a natural born Citizen eligible to be President (he was born (and still may be) British, of a British subject father).
Romney is no better (but at least he is eligible).
http://www.scribd.com/doc/106514978/Voeltz-Appellate-Brief
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21st September 2012 at 2:10 pm
GJH says:
Inflation adjusted using CPI?
I wonder what it would look like adjusted by shadowstats inflation figures.
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21st September 2012 at 4:49 pm
Administrator says:
They are using CPI.
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21st September 2012 at 5:03 pm
bluestem says:
Stuck, if I didn’t know better there seems to be a little bit of Smokey in you today. John
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21st September 2012 at 5:08 pm
DaveL says:
How come my johnson isn’t subject to inflation?
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21st September 2012 at 5:46 pm
Kill Bill says:
AWD = Stucky
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DaveL, try viagra. Yeh, ti willl give you a boner, yet nothing to bone. We need a beer bottle lens drug that makes women desire us.
And you wouldnt want that, right?
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21st September 2012 at 9:42 pm
Stan says:
Jimmy carter
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21st September 2012 at 12:05 am