Oil was 3 dollars a barrel, and was being pumped from Alaska, Oklahoma, California, Texas, New Mexico, and Pennsylvania. They had discovered it in Arabia, but, it wasn't a factor due to it being dirt cheap in so much of America... at the time, the largest known oil deposit was under Long Beach. What is nuts? It's still being pumped out of Alaska, New Mexico, Texas, Gulf Of Mexico, and California... with a lot of the same old equipment, but the same pipelines, so why are they charging over inflated international market value when it's not being shipped overseas, and is being used domestically? For example, Roswell New Mexico I heard, has 5 refineries. The oil is from under New Mexico... so why are they charging the same for gas there, as North Dakota?
No doubt it's a combination of things driving the price of gasoline, but I am thinking it's mostly people who have no business in the market futures and investment business on Wall St. who look to make a killing and get rich quick. In other words, the GREED factor.
First pic: 1957 Buick Century. The 300 hp Roadmaster engine in the shorter and lighter Special body. Second generation of the nailhead V8, 364 CI predecessor to the 401 CI used in the Wildcat.
Middle picture of Texaco station. Look at the price of gas on the sign in the back ground. I weep.
ReplyDeleteOil was 3 dollars a barrel, and was being pumped from Alaska, Oklahoma, California, Texas, New Mexico, and Pennsylvania. They had discovered it in Arabia, but, it wasn't a factor due to it being dirt cheap in so much of America... at the time, the largest known oil deposit was under Long Beach.
DeleteWhat is nuts? It's still being pumped out of Alaska, New Mexico, Texas, Gulf Of Mexico, and California... with a lot of the same old equipment, but the same pipelines, so why are they charging over inflated international market value when it's not being shipped overseas, and is being used domestically?
For example, Roswell New Mexico I heard, has 5 refineries. The oil is from under New Mexico... so why are they charging the same for gas there, as North Dakota?
No doubt it's a combination of things driving the price of gasoline, but I am thinking it's mostly people who have no business in the market futures and investment business on Wall St. who look to make a killing and get rich quick. In other words, the GREED factor.
ReplyDeleteFirst pic: 1957 Buick Century. The 300 hp Roadmaster engine in the shorter and lighter Special body. Second generation of the nailhead V8, 364 CI predecessor to the 401 CI used in the Wildcat.
ReplyDeleteEarly factory hot rod! Sweet ride.