Tuesday, April 22, 2008
The high price of gas. Ease the pinch?
The growing price of gasoline in the US, driven by the high price of oil, has consumers angry, frustrated and scared. The natural reaction of politicians is to promise ways to ease the burden. Yet the US uses too much oil. The price of gas in the US has long been the lowest in the Western world. If we want to reduce gas consumption, which we must, we have to either ration it, or take its price up. Given that, is it responsible for politicians to promise price reductions?