05.23.07
Posted in roads at 11:46 pm by admin
I rode from Fairview to Biltmore today and was surprised at the lack of traffic everywhere. Usually at 12:30pm, the time I went through Biltmore, it is bumper to bumper. Yet, today it was very little traffic. Guess its the high gas prices slowing down the traffic everywhere. I wonder how this summer will be as gas prices soar. And about gas prices, what excuse does the oil companies have now. I heard that before Katrina, the oil companies made a 2 billion dollar profit every quarter. After Katrina, they made a 9 billion dollar profit every quarter. Now, I heard somewhere they are making a 20 billion dollar profit every quarter. Profit means earnings after all expenses are paid out. We should have continued our efforts to make an alternative fuel after the 1972 oil embargo. If they had done so, we would have avoided the oil price crisis that we are in now. To make a correlation between inflation and oil prices, consider this: In 1972, gas prices were .33 cents a gallon and minimum wage was $1.68 an hour. In 1980, gas prices were .99 cents a gallon and minimum wage was around 3.80 an hour. Today, gas prices are $3.33 a gallon and minimum wage is 5.15 an hour.
Permalink