The Internet home for American gay conservatives.
March 2, 2012 by B. Daniel Blatt
V the K says
March 2, 2012 at 3:45 pm - March 2, 2012
Thank goodness the media are obsessively covering the issue of contraception.
Michael Ejercito says
March 2, 2012 at 3:57 pm - March 2, 2012
In the short run, the price of gas is of course going up.
In the long run, gas is getting cheaper. George Reisman showed that in 2006, the price of a gallon of gas was $3.50, while an ounce of gold was $700. The price of gas in ounces of gold was 0.005 Au oz./gal.
In California, which has higher gas prices than the national average, gas today is $4.39/gal. An ounce of gold is $1759.30/oz. Gas is thus 0.002495 Au oz./gal.
To put it another way, had the price of gas in gold ounces remained constant, gas in California would be $8.79/gal. Or, had the price of gas in gold ounces been 0.002495 in 2006, the national average then would have been $1.74. This shows that we are nowhere near Peak Oil, as if we were, oil prices, and this gas prices, should have been increasing relative to gold, a reusable resource.
Gas is not the only resource that is rising in dollars but falling in gold. In 2006, a tall cup of coffee at Starbucks was $1.50. Today, it is $1.65- a 10% increase in dollars. But in gold, the prices were 0.0021428 Au oz. and 9.3787 E-4 Au oz., respectively, a decrease of 57%. If gold prices were still $700/oz, coffee would be $0.65. If gold prices in 2006 were $1759.60, coffee would have been $3.77.
The fact is that American dollars are getting cheaper at a faster rate than gas or coffee or pretty much anything except houses. That is why prices in dollars are rising.
March 2, 2012 at 4:01 pm - March 2, 2012
We can trust the media to report honestly, accurately, and fairly on this issue, as they do with other issues .
timothy montgomery says
March 2, 2012 at 4:48 pm - March 2, 2012
Funny, it’s only 1:46 here in California, you’re posting in EST. Yes. unleaded regular gas jumped from 4.29/gal to 4.35/gal today, 3/2.
B. Daniel Blatt says
March 2, 2012 at 4:58 pm - March 2, 2012
timothy, I post in EST, but live in PST (because the blog founder lives in EST). Will keep my camera with me today; maybe prices have gone up since I snapped the picture at about 11:50 AM PST.
March 2, 2012 at 6:41 pm - March 2, 2012
It’s 4.39 at Shell, Santa Monica & Laurel.
March 2, 2012 at 6:44 pm - March 2, 2012
Still $4.35 @ Fairfax & Beverly as of 3 hours ago.
Sebastian Shaw says
March 3, 2012 at 11:26 am - March 3, 2012
Diesel goes up first. I expect another spike in gas prices soon.