Oil never got close to $60/bbl the high was under $41 during the Iran-Iraq
war. That being said, the other problem is refining capacity, people have
made it pretty impossible to add refining capacity so refining margins are
up. Also gas taxes are much higher than they were 30 yrs ago which was
probably your point.

Mike
MU-2

"C J Campbell" wrote in message
...
So oil is now over $40/barrel and this is being blamed for the fact that
gas
is now over $2/gallon and avgas is well over $3/gallon.

As one news report put it, oil is the most expensive it has been since the
1970's. Ummm, anyone remember what the price of gas was in the 1970's when
oil was pushing $60/barrel? It was less than a dollar a gallon....

--
Christopher J. Campbell
World Famous Flight Instructor
Port Orchard, WA


If you go around beating the Bush, don't complain if you rile the animals.