Gas Prices Under $2.50/Gal - Good, Bad, Indiferent?

Question

Is the price of gas falling below $2.50/Gal good, bad, or indiferent towards the economy and the environment?

Your thoughts?

Answer 1

not fair! gas where i live (philadelphia) is $2.63 - $2.99 a gallon

Answer 2

Oil like any other natural occurring commodity is subject to the momentary whims and pangs of undefined market forces due to perceived supply, geo-political forces, natrual disasters and demand. I think most Americans can handle $2.50/gallon. But with Hurricane Dean approaching the Gulf, I expect to see perhaps a 10-20% increase in oil and thus higher prices at the pump. Nothing totally unforseen, but the lib pundits will find a way to blame Bush for the: 1) the hurricane 2) aftermath and 3)high gas prices. When in actuality none under his control.

Answer 3

It's bad. In fact, it's terrible. Cheap energy, mainly oil, is what has made our current, completely unsustainable, toxic way of life possible. There is no way it can continue. There is no way it should continue. Is it any wonder why we have an obesity epidemic? Car culture is and should be going down. Instead of endlessly expanding roads, going completely in the wrong direction, what we should be doing is riding bicycles much more (gasp!!1111!111), rebuilding light passenger rail, and expanding mass transit.

Whenever I see people whining about gas prices, it only demonstrates one thing to me - they don't care about more than being able to drive their (excessive) vehicle excessively. Maybe, just maybe, there was a reason you got a steep discount on that 2006 Chevy Suburban? Want to make a real difference? Get over your obsession with cars.

I would have no qualms whatsoever if gas prices doubled, or even tripled, tomorrow.

To learn more about what few politicians and those in the mainstream media dare to mention, look up "peak oil". Be prepared for the shock. But be prepared to really start working towards a better future.

It's high time for us to become aware of the fact that our world has real natural limits, and to stop living like it doesn't. The truth may hurt, and disconnecting yourself from advertising-laden, consumerist culture may be difficult, but at least it will help to make the future not as "bad" as it would be otherwise. There's a lot more to this picture than gas prices, folks.

Besides, there are no indications that prices will fall. Demand is increasing, and supply has not increased and is likely to start falling soon if it hasn't already. Expect prices to increase, and not just a little - exponentially.

For some discussion that runs a little deeper than "OMG I PAID $3.19 FOR GAS TODAY!!!!!!111!11!1???", see theoildrum.com.

Might be time to stop playing Halo on your Xbox for a bit, and start paying attention. Welcome to reality.

Answer 4

Completely besides the fact that reducing gas consumption would be better for the environment, this question is actually a stark reality regarding the economic future of America. One of the biggest "myths" of global warming cynics is that combating global warming would be an economic catastrophe and this question is part and parcel with this myth. It is my belief that gas prices should be taxed as high as the average citizen can withstand and that these tax profits should mostly be directed into innovative ideas that create cost effective solutions for the transportation industry of America. America's highways are the backbone of moving people and goods and thus are one major cornerstone of the American economy. This transportation industry is currently relying on a limited resource. Yes the price of all goods would increase in the short run if gas prices were increased, but this would also create an environment conducive not only to replacing gas as an energy source, but to increasing the efficiency of using the existing reserves as well. Sure some wealthier individuals will not care and will continue to drive their Hum V's, but 70% of America lives pay check to pay check, 50% makes less then $18,000 per adult family member per year which is considered to be below the poverty line given the scale of economy in America and 33% has extended their credit beyond their means. These numbers will probably only get worse as the 2/28 and 3/27 mortgages take steep steps up in their interest rates in 2008 and 2009. With so many people feeling the economic pressure of these price increases there would be vast incentives for politicians to solve the "energy crisis" by quickly pushing for research and development that would push America into the forefront of developing renewable energy solutions, instead of continuing this role as a reluctant dopey headed fat boy at the end of the line. That boy has got to start running and thin up a bit while taking the lead in this technology sector. A little tightening of the belt in the here-and-now is what will be needed to create a sustainable economy instead of following the current trend that will inevitably force that fat kid to sit on the curb starving to death, scratching his head wondering... "What did we do wrong?" Well America is at the cross roads of their economic future right now. Mesopotamia, Egypt, Rome, Greece, China, the Mayan's and even the English have demonstrated that great empires do not last forever, but I am curious to see which road that this great Country chooses right now? Will we continue to burn our hopes up with the continued dependence on a dwindling resource? Or will we see an invested interest into our economic future? Fortunately, such a change in our outlook would have the added effect of improving the environment, but that is besides the point when considering that the core of the question is really concerning the economics of America over the next decade vs. over the next century. To me it's a no-brainer, but unfortunately our politicians are driven by being electable after their current four/six year terms, which leaves many of them focused on what will keep them with their paycheck now. So long as "cheap-ish" gas is a viable alternative that keeps the dopey fat boy happy, it is just the easiest way to keep the masses focused on the short term, which is the time frame that is important to their being electable. Anyways, so long as the majority of America is pouting about gas prices (which are a half to a quarter of the amount compared to many other countries) then politicians have no incentives to change their motives. As strange as it sounds, if we want our grandchildren to live in a prosperous, successful country, then we should actually be asking our government to increase the prices that we pay at the pump and then to invest this money appropriately towards our sustainable economic future.

Answer 5

They did a survey a few weeks ago and a majority said they wouldn't really change their driving habits or the vehicle they drove until gas got to $4.00 a gallon so I say lets make gas $4.00 a gallon, we need to get off of oil and if people won't change just because it's the right thing to do, then maybe we need to " help" them a bit. We can put the extra into infrastructure repair and upgrading.

Answer 6

In my opinion, it would be BETTER if the prices went down because if they keep going up, there are honestly some who can't afford it which will only do one thing: increase crime rates. I know if I had to get my child to a doctor and needed gas and had no money. I wouldn't sit at home, I would do something. SO people will end up stealing it or robbing someone to have the money. People who only make minimum wage can barely afford gas now, so what would happen if it kept going up, they couldn't afford to work, then what? They can't afford to live, eat, keep their homes. It will eventually end in disaster, in my opinion.

We shouldn't complain too much because I know a guy in Scotland who pay around $8.00 a liter for gas, isn't that crazy?

Answer 7

I agree with FISHMAN your all sleeping the oil company's are like the thief in the knight and like the fools that we are we thank him . Just because they dropped the price a few pennies don't give up on alternative energy that you may someday get practically free. Don't be brain washed and if you do remember that you was the next time the price goes up . When fuel goes up everything goes up . the fuel may be low today but the price of milk didn't drop now did it . Think people think real hard you can do it.

Answer 8

I think everyone is missing the point here. Sure natural disasters and such cause spikes in the prices but we need to see the big picture here. Americans have proved once again that they will pay big money for gasoline. Everyone gets excited when it drops 10 cents here and 20 there but look in the past. Gas has tripled in price over 10 years. They raise it high then drop it a little just so people think that they are saving money when in reality every time it is raised and dropped the end result is always higher than the last time. Wake up people we are being robbed blind here. I am guilty for being excited when it drops but in reality it is still higher than it was before! When will America wake up?

Answer 9

Mr Jello - Truly a great question. Stated as an honest question, not a disguised opinion. Raises a good issue to think about, in many ways. You got a star from me.

Good in the short run for the economy. Bad in the longer run because it encourages excessive use (like buying bigger cars than people need, just to "feel good").

The problem is that the price of gas in the US doesn't reflect the true cost. We didn't go to war in Iraq to steal oil, but, without our crushing need for imported oil, there never would have been an Iraq war, for many reasons. And global warming will impose huge costs on us to relocate people and things away from coasts, and to fix damage to agriculture.

Markets don't work well when prices don't reflect true costs. That's when government need to play a role. All of us agree government has some functions, this happens to be one of them.

We are long overdue for increased gas mileage standards for cars, SUVs, and trucks. The technology we have today can meet them.

Answer 10

I think it's good, because people have proven time and time again that they don't care how high gas prices are; they're still going to drive around in their SUVs and waste gas. The only people that feel the high gas prices are people who are less financially well off. Not to mention that when gas prices rise, the price of everything else rises right along with it.

Answer 11

All this self-loathing and jealousy is ridiculous. Cheap gas is good for everyone as long as no one is getting ripped off. A gallon of gasoline has the potential of good and bad, depending how it is used.

It's very convenient to hate fossil fuel until the horse-drawn ambulance pulls up to your lean-to in a belated attempt to save your life...