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malek
drinks your milkshake!

Registered: Nov 2001
Location: Montréal
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Apr-19-2004 17:50
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Krypton
83.798 g/6.022x10^23

Registered: Nov 2003
Location: Texas
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Apr-19-2004 19:56
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Dupz
Supreme tranceaddict

Registered: Dec 2002
Location: Melbourne
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Why are Americans having such a cry over their gas prices???
They've got some of the cheapest petrol in the world. I think it's only Venezuela, and maybe another country or two, who are paying less for petrol.
In Melbourne we're paying the equivalent of about US$2.78 per gallon of petrol.. I mean, we're even kicking up a stink about it here too..
I feel sorry for the British, who pay something around US$5 for the gallon of petrol. Sure they drive much less than we would, but still, get over it.
Refering back to NeoPhono's comment:
| quote: | | Historically, and adjusted economically, prices aren't even that high. It's just a bunch of ignorant Americans bitching about something they saw on tv. Stupid media. Stupid Americans. |
This comment has some truth to it... The reason why petrol is as expensive as it is, is simply because it's heavily taxed (this is because demand for petrol is inelastic, therefore a favourable good for governments to tax). In real terms, the price of petrol has fallen over the last 20 years. Dont believe me? This site should help:
http://www.shell.com.au/petrolpricing/index_vic.html
The fact that the price of petrol, in real terms, has fallen over the last 20 years is quite interesting. In economic terms, the marginal cost of extracting and processing an exhaustable resource becomes more and more expensive over time (simply because there's less and less of it in the ground (ie, it becomes harder to pump it out of the ground etc etc)). We see this, yet we still have cheaper petrol than what we had 20 years ago?? weird
But yeah, we'll never again see the days when petrol was at half the price that it's at now. Not with China growing into an economic powerhouse.. China will eventually blow out the demand for crude oil, and in turn will drive the price of crude oil, and petrol, ever higher.
Stop hitting the Saudi's about expensive petrol. It's not their fault that they own a monopoly on the worlds oil prices.. I mean, if you were in their position you'd capitalise on it too 
(btw, in the link i provided click on "trends" for the explanation)
Last edited by Dupz on Apr-20-2004 at 09:07
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Apr-20-2004 08:52
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