Americans fell in love with vehicles like the Ford pickup trucks in the 1990s, back when gas didn’t cost much more than $1 a gallon. That seemed normal at the time, because gas prices had remained in a narrow range — roughly 90 cents to $1.25 a gallon — going back to the early 1980s.
But this stability was actually a sign of something deeply unusual. The cost of most everything else was rising, as was the size of people’s nominal paychecks. So in practical terms, gas was becoming cheaper. By 1999, it had effectively fallen to its lowest point on record, about 30 percent lower than few people in my country realize this.
The over all sentiment is that we should go back to the regulated oil days. The fact is we have a weak government that can’t seem to reign in the profiteering.