A gallon of regular unleaded now sells for $1.58 at the station down the street from my house. Check out these charts of historic gasoline and crude oil prices from the US Energy Information Administration. Adjusted for inflation, that same gallon cost over $3.00 in 1919, and again more than $3.00 in the early 1980s.
It was, of course, in the $4.00 range just six months ago.
And now, adjusting for inflation, we have some of the lowest prices of the century -- literally some of the cheapest gas since the invention of the car. So, if congress was calling "Big Oil" a den of "evil profiteers" at over $4.00 a gallon, then they must be "greatest American heroes" today, right?
When is Congress going to call in the CEO's of Exxon and BP Energy and publicly thank and praise them for their generous pre-Christmas conspiracy to bring down the price of gasoline and put so much money into the pockets of American consumers? Did I miss that announcement during the recently concluded campaign?
Where was the TV commercial praising every candidate who was "doing the bidding of generous oil"?
Instead, the same bunch is probably waiting for the price to go down another 50 cents, at which point they'll offer price supports and a taxpayer bailout of the "struggling" oil companies. It's been known to happen. That's why not just anyone is qualified to be a politican.