[mc6809e]

Doctor Sowell is pretty close to being my favorite American Thinker but but how sad that even he, in this piece, fails to address the real cause of the illusionary "price increases" of oil and gasoline.

Even adjusted for inflation gas and oil prices are higher than they were in 2001.

Sowell is correct. An underlying reality is responsible for the high prices. And his thermometer analogy is a great way of explaining this.

That doesn't mean inflation isn't a problem, but there's much more to the situation that just inflation.

[Brian Allen]

<< Even adjusted for inflation gas and oil prices are higher than they were in 2001. >>

Yep. Marginally so.

But insidious and absolutely government-controlled ["Deficit spending"/Bankruptcy/Fed manipulations] inflation is the major contributing factor.

And oil still has +/-$15.00 per barrel to go before it reaches its 1981 Jimmah Cartah price.