The Upside of Costly Gas
I’m sure that by now many (most?) of you are sick of hearing about gas prices, but I thought I’d throw in my own two cents anyway. According to a recent AP news article, high gas prices have resulted in an increased reliance on public transportation. If this turns out to be a real (and substantial) trend, and not just a bunch of media hype, it will not only decrease demand for oil, perhaps helping to moderate prices, but it will also help with regard to other urban woes, such as traffic and pollution.
In fact, an AP story that was released earlier today reports that gas prices have dipped slightly in the wake of reduced demand. With the summer driving season just around the corner, it’s just a matter of time before the downward trend reverses itself, but… At least in the short term, this is the kind of news that many of us have been hoping for.
In terms of real, long term changes, I doubt that the whole mass transit fad (if there is one) will hang on. But maybe the skyrocketing gas prices will serve as a wakeup call to those that are in the market for a new and improved SUV that guzzles even more gas than the one that they’re driving right now. As for myself, I’d love to be able to hop on my bike or plop down on a bus or train to get to work. Unfortunately, I live about 12 unbikeable (unless I want to die) miles from work, and public transit really isn’t an option in my part of town. Moreover, I haven’t been able to come up with a workable car pool. Thus, I’ll have to be content to drive my reasonably efficient car (a 4-cylinder Honda Accord) and continue my new habit of telecommuting one (and sometimes two) day(s) per week. Hopefully the rest of you are doing what you can to save gas, thereby keeping prices down, decreasing our dependence on foreign oil, reducing pollution, and easing traffic.
Published on May 3rd, 2005 - Leave a Comment
Filed under: Energy
email this article
- add to tip'd - stumble it - digg it - bookmark it
About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
Related articles...
» Gas Prices Falling Fast» One Year Ago This Week (June 18th – June 24th)
» One Year Ago This Week (January 14th – January 20th)
» From the Archives (January 13th – January 19th)
» One Year Ago This Week – In the Beginning
» The Cost of a Failed House Deal
» Inside the Economic Rescue Plan: One Giant Bailout
» America’s Cleanest (and Dirtiest) Cities
Was this article useful? Please sign up to receive our content via e-mail:
Great deals...
Readers’ choice...
Recent articles...
- Did Congress Make the Homebuyer Tax Credit Retroactive?
- Congress Extends $8000 Homebuyer Tax Credit, Adds New $6500 Credit
- Lending Club Update - October 2009 Performance
- How Much to Budget for Car Maintenance?
- Series I Savings Bonds Now Paying 3.36%
- Use Weight Loss Strategies to Get Out of Debt
- Weekly Roundup - Disney Shanghai Edition
- How to Save Money on Vacations
- Most and Least Reliable Cars - 2009 Edition
- Get 100 Free Trades from OptionsHouse Brokerage
Recent comments...
- Penny: I am about to purchase a new home.. which will be my new residence...
- APRIL DAYS: I FOR ONE HOPE THAT THE FIRST TIME HOMEOWNERS TAX CREDIT IS EXTENDED BECAUSE...
- JB: I drive a 1999 car and save $60 a month for car repairs, oil...
- Greta: My significant other and I bought a house in February 2009. My boyfriend...
- Jay: Don't forget nCleaner 2nd for turning off widows firewall and windows defender...also use the...
- Bryan: @Doug - you said it... if you simply delayed the closing, it would have...
- Sympathetic Dish TSR: @ Bonnie: Is your HD tv a Flatscreen LCD style? If so then a...
- John DeFlumeri Jr: Thanks for explaining the tax credit. Too bad for those who purchase in...
Most talked about...
- Dave Ramsey is Bad at Math
- $8,000 Homebuyer Tax Credit
- Dish Network Customer Service SUCKS
- How to Claim the First-Time Homebuyer Tax Credit
- $15,000 Homebuyer Tax Credit
- Reduced Credit Limits? Share Your Experience
- Would the "Fair Tax" Gut the Economy?
- Tax Stimulus Rebate Payments to Start Early
- Pay Off Mortgage Early? Or Invest?
- The Best Online Savings Accounts (Updated!)
- Life's Too Short to Drink Cheap Beer
- $7500 First Time Homebuyer Tax Credit