In conclusion, the programs reduce consumer welfare, the intended results of the domestic subsidies program are, in large part negated, by the military program, and domestic refiners are the big winners under the current policies.Here is the press release, executive summary and the actual report I was referring to when I claimed the real price of gas was between $5.00 and $15.00.
Total Annual Government Spending Subsidies:These are dictionary definition tax subsidies. No editorializing on my part, though I can't say the same is true of the folks at the International Center for Technology Assessment (CTA) who produced this report.
Low estimate: $38.0 billion or $0.32/gallon
High estimate: $114.6 billion or $0.95/gallon
Up to $96.3 billion in US defense spending each year may go directly towards protecting overseas oil sources.
Estimated annual cost of oil defenseSources listed for this information include William S. Cohen's 1998 Annual Report to the President and Congress, in addition to The Institute for Local Self Reliance, Greenpeace and Ravenal (1)
subsidies:
$55 to $96.3 billion in 1997 dollars
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"While $2.017 is a record for gasoline, adjusted for inflation the price hit $2.99 a gallon in March 1981..."
Take a look at this guy's personal gas-consumption records...assuming it's accurate, it appears that in recent years than ever before. Adjusted for inflation, he's been paying as little as 67 cents per gallon recently, which, when compared to the past 25 years, is quite nice, in fact. Using the adjusted for inflation figures, over the last two+ decades, he paid as much as TWICE that amount.
And here is more evidence that gas prices are not outrageously high, and still more evidence,
And more:
posted by davidmsc at 1:02 PM on May 22, 2004