Gas Is Cheap: What Will Happen To Economy Cars?

[bronsin]

Hmmm that upward swing would seem to be limited. If oil goes above ~$70 a barrel the frackers go back to fracking.

In a way Im surprised Obama and the environmentalists aren't trying to tax gas up to $4 a gallon. After all cheap gas leads to more driving, more pollution, and faster depletion of a valuable resource.

I guess it will take a while before their lights go on...

[roxy1]

Originally Posted by bronsin

I guess it will take a while before their lights go on...

Hopefully, their light are on. Some of the money people are saving at the pump is going into extra purchases, which is good for the economy. Even though they should, many folks aren't putting that extra money in their savings.

[nookandcrannycar]

Originally Posted by bronsin

In a way Im surprised Obama and the environmentalists aren't trying to tax gas up to $4 a gallon.

I doubt this is the case, but perhaps they sense their hypocrisy is getting harder to hide and they think there might be a backlash. During a speech in South Africa in 2013, Obama said "the planet will boil over" if everyone has access to air conditioning, automobiles, and big houses. If he truly believes this and cares about that belief...then why did he buy a 6,000+ square foot air conditioned house in Chicago? (..and just because he's the president, doesn't mean that he has to keep the house). Ditto for radical environmentalist billionaire Tom Steyer...he may take a train instead of a private jet, but he still has multiple homes...and a good chuck of his money was made on coal investments...something he didn't state until someone 'called him on it'. On the face of it, there is nothing wrong with spending money you've made on such purchases....It is just the political and policy beliefs they hold that make such ownership hypocritical. And no, buying carbon offsets (if they were to do that) doesn't make their stances any less hypocritical.