On Tue, 23 Aug 2005 19:20:21 -0400, "TaxSrv" wrote
in ::

"Jay Honeck" wrote:
...
Gasoline is only now getting back to the price it was (in real terms)
back in the 1980s.

Don't fall for that propaganda regarding "1981 prices, in today's
dollars." There was a spike in crude prices during the Iran-Iraq war.
Retail price, in real dollars, on either side of that spike (late 70's
and mid-80s) were significantly less than today.


What I want to know is why the Windfall Profits Tax (implemented by
President Carter in 1972 IIRC) hasn't been mentioned yet. It would
seem that domestic oil producers' costs haven't risen anywhere near
the price of crude.