Sunday, April 30, 2006
Rising Motor Fuel Prices
The Wall Street Journal is reporting As Gasoline Prices Soar, Americans Resist Major Cuts in Consumption (subscription required - if you want to read the full article, leave me a comment with your e-mail address).
With gasoline prices in the U.S. approaching an average $3 a gallon, Americans are moaning about the rising cost, but so far they are resisting big changes in their gas-guzzling ways.
A 25% jump in prices at the pump since December has set off a firestorm in Washington. Politicians are threatening auto makers with tougher federal fuel-economy standards and oil companies with higher taxes on record profits, while warning against price gouging.
And in a related article, the WSJ reports that Gas-Price Uproar Is Likely To Shift U.S. Energy Policy:
The surging price of oil and gasoline has sparked a wave of jockeying in Washington that could presage the biggest change in federal energy policy since the 1970s.
Suddenly, ideas that have languished on various wish lists for years have a realistic chance of becoming policy, as motorists in many parts of the country face $3-a-gallon gasoline even before the summer driving season starts. Among those getting serious consideration for cutting gasoline costs and reducing foreign-oil dependence: higher fuel-economy standards for cars, new incentives to shift cars away from gasoline, a crackdown on energy-price manipulation and inducements to encourage more refining.
With gasoline prices in the U.S. approaching an average $3 a gallon, Americans are moaning about the rising cost, but so far they are resisting big changes in their gas-guzzling ways.
A 25% jump in prices at the pump since December has set off a firestorm in Washington. Politicians are threatening auto makers with tougher federal fuel-economy standards and oil companies with higher taxes on record profits, while warning against price gouging.
And in a related article, the WSJ reports that Gas-Price Uproar Is Likely To Shift U.S. Energy Policy:
The surging price of oil and gasoline has sparked a wave of jockeying in Washington that could presage the biggest change in federal energy policy since the 1970s.
Suddenly, ideas that have languished on various wish lists for years have a realistic chance of becoming policy, as motorists in many parts of the country face $3-a-gallon gasoline even before the summer driving season starts. Among those getting serious consideration for cutting gasoline costs and reducing foreign-oil dependence: higher fuel-economy standards for cars, new incentives to shift cars away from gasoline, a crackdown on energy-price manipulation and inducements to encourage more refining.
Comments:
Post a Comment
