I avoided this at teh first pass, since I just got through taking a beating in another forum over the same thing, but I agree with treebear. We should be paying at least another $1/gallon for fuel.
Glen, how about instead of paying artificially inflated prices to profit oil corps. we just stop paying artificially deflated prices? As it is, gov't subsidies have us spoiled into believing cheap fuel is a right. It has resulted in rampant waste as people drive fat kids two blocks to their friends' houses, buy hummers as status symbols, and insist on 4X4 SUV's even though they wouldn't even know how to get off the road if they ever wanted to (which they won't).
No? How about making a significant difference in what it costs to register a gas guzzler compared to a fuel sipper (like $1000/year to keep tags on a hummer)? The excess $ should be applied to conservation programs and researching alternatives, not building more roads to suburban sprawl.
I know this is not a popular opinion, and it would hurt me and my big truck as it would hurt many of you even more, but we need to face reality before we get blindsided. If we haven't already started down the road to declining world petrol supplies, we are certainly close, even as China and India are being caught up in a car culture not unlike our own. Better to bite the bullet know than be shot by it in a war to secure the last few barrels of crude.
I have little sympathy for complaints about $3/gal gas. I've been paying $3.40/gal for biodiesel for some time now. Yes, the price hurts, but knowing my money goes to being part of the solution (and none goes to exxon/mobil/texaco/chevron) takes some of the sting away. Americans stubbornly cling to their current lifestyle at these prices, but already we hear rumblings about better planning to run errands and fewer unnecessary road trips. Maybe another dollar or so will actually persuade a few more people to make sensible choices when buying cars, to carpool, to take the bus, to vote for light rail, etc.
And, to answer the OP, there is some discussion here about global warming and related issues, but there is always some fool with his head in the sand waiting to say global warming is a myth. Mainstream America is in deep denial. They take their cues from the president, I suppose. Or maybe it's the other way round.
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