Here’s a terrific chart from our friends over at Chart of the Day.
When you adjust the price of oil (and thus, gasoline) for inflation, relative to the past its merely more expensive than it was — but not outrageously so. Indeed, energy now consumes about 2-3% of GDP, down from 15% (if memory serves me) 30 years ago.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.