December 19, 2014

Blog responses on gasoline prices

Published 12:00 am Wednesday, December 2, 2009

Have gasoline prices got your anger fueled? Here are comments left on the Kannapolis blog on www. salisburypost.com on that topic:- Whig Kid: My “thoughts on gasoline prices” are that people need to make lifestyle choices that are more responsible in where they live, work and play. The extra costs are but one consequence of a recklessly luxurious lifestyle, particularly when climate change is factored in.
Those of us who live in Salisbury, and those residents along Hwy. 150 who are preparing to be welcomed to Salisbury, will have short enough commutes that gas prices will not impact us too much. Those who choose to live way out in the county, on the other hand, will likely spend more on gasoline than any property taxes the city could possibly add to your soon-to-be annexed area. Just think of it as another amenity offered by your close proximity to Salisbury.
– Holsie: I’m fairly new to the area. Gasoline prices here are not so high compared to California, though. So far, Kannapolis seems to be a neighborly place. As gas prices rise, perhaps more people will choose to live short distances from work. It could further connect us with our neighbors, and therefore, ourselves.
– wb20: A bit of perspective for the alarmists….
For instance, let’s look at 1955, a year most of us associate with big cars, big engines, and cheap fuel ń automotive glory days, as it were. Gasoline sold for 29 cents per gallon. But one dollar in 1955 was worth more than one dollar today. If we were using today’s dollars, gasoline would have cost $1.76 per gallon in 1955.
Gasoline now costs around $3, so we are worse off than in 1955, right? No. Because we were poorer in 1955 than we are today, $1.76 then had a bigger impact on the pocketbook (that is, it represented a larger fraction of income) than $1.76 today. If we adjust gasoline prices not only for inflation but also changes in disposable per capita income (defined as income minus taxes), gasoline today would have to cost $5.17 per gallon to have the same impact as 29 cents in 1955.
This week’s question: What do you think of this season’s American Idol hopefuls? To comment, go to www.salisburypost.com, click on “Blogs” and look under the “Kannapolis” heading.

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