For the past year or so, Bush defenders like to point out that the high gas prices we’ve been seeing aren’t all that bad. "When adjusted for inflation, there are nothing like the high gas prices in the Carter administration," they say.
They can’t say that anymore.
![Nyt_oil_market Nyt_oil_market](/images/various-small/nyt_oil_market.gif)
Graphic from the New York Times.