Buying By The Gallon

Tyler Cowen looks at a Gregg Easterbrook piece which examines John Kerry’s energy plan.  He then compares Easterbrook’s thoughts to Nick Schultz’s, and he also provides some cost comparisons as the hand wringers berate the $2.12 cost per gallon of gas around San Diego.

"At the big-box retail outlets Sam’s Club and Costco, ketchup sells for about $0.04 an ounce or $5.12 a gallon — a little more than twice the price of gas.

But that’s not the best comparison. Americans typically don’t buy gas in bulk the way they buy foodstuffs at Costco. Ketchup at a retail grocery store is $0.16 an ounce meaning it rings in at an impressive $20.48 a gallon, almost ten times what gas costs.

Gas is also cheaper than orange juice ($6.64 a gallon), Snapple ($10.32 a gallon); olive oil ($51.04 a gallon), eye drops ($995.84 a gallon) and nasal spray ($2,615.28 a gallon) according to figures from the Department of Labor, Consumer Price Index."

Posted by on 04/05 at 05:49 AM

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