5 Upsides of $4 Gas

The Downside to $4 Gas one year later...

Let's see:

$60-$80 fill-ups at the pump (and $5/gallon diesel) led to...

Less money in the average household budget for discretionary spending on clothing, entertainment, furniture, etc. as well as delayed purchases of major items like cars and houses,

AND higher costs to distributors and suppliers and producers of these same items as well as airlines which led to higher prices and lower profits and further reductions in sales

SO companies started reported lower earnings which led to a drop in the stock market

AND a decline in new and used home sales leading to a drop in home values

AND rising unemployment as companies like retail stores, trucking companies, auto makers, etc. faced with higher costs and lower sales reduced staffing to stay afloat which led to defaults by their out of work former employees on loans of all kinds

AND as the cycle continued home prices declined more precipitously as did the stock market which led to a crisis in the mortgage industry which led to a crisis in the insurance industry and the housing industry and the auto industry and an historic free-fall in the stock markets which shut the pockets of retired people and exacerbated a recession in which millions have lost their jobs....

Hmm. Somehow I don't think "greater awareness" and "less traffic" was worth it.

John of KY @ Aug 19, 2009 17:19:52 PM

$4 gas is cheap

In Europe gas costs closer to $10 a gallon. Once this recession is over $4 gas will seem cheap. 5 or 6 dollar gas is right around the corner. We need to change our lives accordingly. Read "20$ per gallon" for the upside of more expensive oil. You can only ignore reality for so long. We don't have a Constitutional right to cheap energy.

Mark of MA @ Aug 13, 2009 13:42:46 PM

$4 gas.

Why don't we just tax gas an additional $96/ gallon and bail out the oil companies for loss of sales. This would save the environment, spur breakthrough technologies such as subsidized ethanol, solar and wind power.

minca of CA @ Aug 12, 2009 14:03:30 PM

Four dollar gas

Why is it that some of these people think that we as Americans should be subjected to high gas prices. This will sound arrogant but I do not care. This is America, remember, the country that saved Europe twice in the 20th century, remember, the people who everybody wants on their side when things are going badly but want to blame the Americans for all of the bad things. If they want to pay $4 a gallon who cares. We are America we do not follow WE LEAD. We should be drilling for oil in every crack and creavis in this country. Oil drilling is talked about like it is a curse, well it's not. Believe it or not oil drilling has advanced to state of the art in the time since the first well was drilled a hundred years ago. All people like Mr. Newman talk about are raising oil prices, never about how we could improve technology on cars, improve mileage, lower exhaust emissions, and be more green without raising oil prices.Honda's first car entry, the CCRV I believe was the model in the 1970's met emission standards without a catalyic converter, that was in the 70's, don't you think that we have progressed a little since then, I certainly do. As for traffic, anyone that does not like traffic can take the trains, planes or buses, or better yet, stay home.Another point, in his effort to save the trees he forgot about the people who would not be able to afford gas, the elderly and those on a fixed income, many young families. Mr. Newman and some of his bloggers seem not to realize that $4 gas not only affects gas but every aspect of our lives. When gas goes up everything associated with gas goes up. That includes education because many children still ride the bus. People need to think before opening their mouth.

Gary Waisner of NC @ Jul 16, 2009 12:26:29 PM

$4 Gas

Why don't you try and survive on $40-$60K gross per year, then pay that $4 a gallon. Seriously, have you done the math? A car that needs just one gallon per day for driving to work costs over $1,000/yr. And that's bare minimum. Multiply that by two, plus any extra driving and your talking about almost 10% of a low income family's income. Get real. The public has already been squeezed to the breaking point by taxes. Maybe if you lost your job and had some trouble paying bills you might think differently. Until then, try writing about an issue you have a clue about.

Eric Brown of MI @ Jul 14, 2009 13:05:43 PM

4$ Gas

This guy has apparently been smelling too much of the gas he is buying.

Rodger of CA @ Jun 30, 2009 11:04:32 AM

$4 gas will be good

It will hopefully reduce the number of giant SUV's on the road.

psw of CA @ Jun 30, 2009 01:24:28 AM

No Upsides of $4 Gas

Four dollar gas is TERRIBLE for the economy, as we saw last summer. A return to those levels at this point would be like a knockout punch.

Miles Daly of AL @ Jun 27, 2009 01:18:48 AM