Thursday, August 21, 2008

A historical perspective on gas

Politicians of both party stripes now believe that government must solve every problem, real, or perceived.

Take for instance, the price of gasoline.

While we've seen some serious increases in the price at the pump over the past year, Cato Institute fellow Jerry Taylor, along with Indur Goklany counter that notion with an article that appeared in the Los Angeles Times, August 11.

From the article,

But both [presidential] candidates and the public are evidently unaware of a basic fact: Gasoline is more affordable for American families now than it was in the days of the gas-guzzling muscle cars of the early 1960s. Prices are beginning to come down somewhat, but this was true even when the national average was at its summer peak.

Two-thirds of American voters say they think that the price of gas is "an extremely important political issue," and many believe that it will cause them "serious" financial hardship, according to a recent survey by the Associated Press and Yahoo.

You can read the entire article here.

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