December 10, 2019

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The energy industry the day JFK was assassinated

Nov 21, 2019 |

Original article can be found here.

It was 56  years ago Friday when President John F. Kennedy was assassinated while riding in a motorcade in downtown Dallas.

November 22, 1963.

What was the energy industry like in those days?  A gallon of gas cost only 30 cents. Sounds cheap doesn’t it. But analysts say it’s not as cheap as it sounds when you factor in the average was about $4,400 a year or $84 a week.

Yes, but you got full service back in 1963.  Those were the days a “gas jockey” ran out after you entered the gas station and ran over the air hose that dinged and alerted him a customer was at hand. Usually with a rag in his hip pocket and a smile on his face, he pumped your gas, cleaned your windshield and maybe even checked your engine oil.

Crude oil prices in 1963?  A barrel o f oil produced from Oklahoma oil wells brought on average $2.91.  It finally reached the $3 a barrel mark in 1964 and it wasn’t until 1975 when crude oil prices went above the $10 mark and reached $12.21 a barrel.

Home prices?  The median house in the U.S. in 1963 cost $18,000. Adjusted for inflation, it was $143,522.74.

A first class stamp was 5 cents.  A dozen eggs cost 55 cents.  If you brought a gallon of milk, it cost 49 cents and a loaf of bread was 22 cents.

Oh, if you were a smoker and a lot of people were in 1963, a pack of cigarettes cost 35 cents compared to the average $8.32 per pack today.

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