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Old 03-03-2008, 09:53 AM   #16 (permalink)
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True cost of gasoline

This is a year old so it's a little dated. So it even more now.

In 2003, as noted, we estimated that the “hidden cost” of imported oil totaled $304.9
billion. When we revisited the external costs, taking into account the higher prices for
crude oil and increased defense expenditures we found that the “hidden cost” had
skyrocketed to $779.5 billion in 2005. That would be equivalent to adding $4.10 to the
price of a gallon of gasoline if amortized over the total volume of imports. For Persian
Gulf imports, because of the enormous military costs associated with the region, the
“hidden cost” was equal to adding $7.41 cents to the price of a gallon of gasoline. When
the nominal cost is combined with this figure it yields a “true” cost of $9.53 per gallon,
but that is just the start
"Judge a person by their questions rather than their answers."

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