Tuesday, September 6, 2011

Rising Gas Prices

Gasoline prices are peaking up to 5 dollars a gallon in some areas of the country and is certainly a cause for concern. According to a poll in the Washington Post, about 70 percent of Americans say that high gas prices are the reason for their financial crisis. High gas prices in 2008 contributed to our nation's deep recession, and we still haven't fully recovered from it. Policies that lower fuel prices and lift regulations that are contributing to even higher petroleum and energy prices need to be favored more than the other policies trying to get passed. Since failing to pass a flawed cap and trade legislation, the Environmental Protection Agency has been used as backdoor to implement new harmful regulations and energy taxes. Recently, the House passed H.R. 910, The Energy Tax Prevention Act, in order to prevent the EPA from promoting any regulation relating to climate change under the Clean Air Act. We also must take steps to ensure our nation is not held hostage to the prices set by the Middle East. That means we need to look for new sources of oil in Alaska, on the Outer Continental Shelf and from shale in the West. The use of American innovation to accelerate technology that burns coal in a cleaner way because it is an abundant energy source in our country needs to be used. I believe that over the long run, we the people need to develop and implement new alternative energy sources and technologies.

10 comments:

Smith said...

Do you think the government should worry about high gas prices, credit market, or housing market first? Do you think in a market economy we would even have this conversation?

Katie R said...

Lately, everyone I've talked to has mentioned something about high gas prices. It is true that rising gas prices are a major concern in today's economy. Gas is a necessity for people today. It is used to power our main sources of transportation, and without it, people would have to find other ways to get to where they need to go. The car industry is rumored to be releasing cars that can be operated without the need for gasoline, but the prices for these cars are very high. There has to be a way that gas prices can be lowered maybe just a little. If gas prices aren't lowered soon, the country could go into another recession, which would be very problematic.

kat3201 said...

Whether a person drives a car or the bus, gasoline is a necessity and unfortunately also a scarcity. I agree that gas prices are on the rise and a big expense for most people, which played a big role in the recession. In 1994 gas was only $1.11 and since then, it has only continued to rise. Because gas is scarce, it will eventually run out. Instead of focusing on ways to lower gas prices, I agree that we should be focusing on ways to produce cars that run on electricity. In return this would improve the air quality, lower gas prices,
-Katherine T

James P said...

i agree with you matt, gas prices are becoming waaay to high. $5 dollars is a lot for gas, like i said in my blog we shouldn't be at the gas pump making life decisions. i don't drive yet but my parents won't take me anywhere because gas prices are to high, that's the main reason. The other reason is because I don't clean up. The government should come up with a way to lower gas costs become sooner or later people will start riding bikes and motorcycles to get better gas mileage.

Colton U said...

I agree completely with what you're saying. Gas prices are progressively increasing which is already causing people to become concerned. If we don’t solve this issue people will have to starting finding other ways of transportation which will cause many problems as well. We need to find other places to drill for oil and not just rely on the Middle East. By doing this simple task the gas might lower a bit which would be huge. In this case the little things count and will make a big difference. Colton U

Upper School Government and Economics said...

In my opinion, gasoline will always be scarce. I agree with what you are saying about the prices of gas being a major issue. I think we need to find another source to fuel transportation other than gas. Because the price of filling your car up with gasoline is so high, the gasoline is scarce and may one day run out. If we found another source to use instead of gasoline that isn's scarce, they could lower the prices and that would help the financial crisis facing many Americans today. I also believe the use of technomogy to fuel cars instead of gas, would also be very useful. Many Americans struggle on a daily basis for transportation costs, and this could be the solution to our problem.
-Emily L

Selina R said...

I agree that gas prices are incredibly high. If prices are kept at this rate, our country will fall under a financial crisis, more so. I think we should find another source of gas. Since gas is scarce, I think one day it will run out and if that happens then we would be doomed. We need a backup plan for transportation. I like the idea of the battery run car. I think it is a very smart idea and we would be better off with this backup plan. Another idea would be to find another source of gas. I think we shouldn’t just have to rely on the Middle East. By finding other sources, it might lower the prices of gas slightly, which would help the country tremendously.

Matt said...

Another source of gas would be very beneficial, but I think that if we do find another source the price would still be pretty high just because there is such a high demand for gas. The price might not be at 5 dollars but still kind of high. I think more people need to carpool and more people should buy or lease more fuel efficient cars. People like to buy trucks and sports cars and see who has the nicer truck or sports car, but now it's coming down to who has the most fuel efficient car. I like my truck but it just goes through gas so fast. I pay about 75 to 80 dollars every time I fill up and that's just ridiculous.

Cameron said...

Although gas prices were, and are always rising to extremely high rates, there is nothing we can do to help this. Gas will always be a scarcity, but will also always be an inelastic product. No matter how high the price of gas becomes, people in this country will always need gas, it is a neccesity. Unless congress passes a law that makes it illegal to drive gas cars, gas will always be scarce and a neccesity, and will always have an impact either positively or negatively on our overall economy.

-Cameron Laird

James P said...

is gas and elastic quality oe inelastic quality.?