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#1
May 17th 04, 09:01 PM
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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. 
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