The Upside of Higher Gas Prices
Higher gas prices are typically considered bad news. Economists know that higher crude oil prices can not only cause inflation, but also stagflation, which is decidedly bad for the economy, leaving policy makers in a Catch-22 situation. With the steady oil price increases over the past year, there is thus plenty of reason to be wary of this trend and its potentially significant negative effects.
But a few people I know will be happier. For all the bad publicity that higher oil prices are associated with, there seems to be a silver lining to this issue. Higher gas prices are proving to be a significant deterrent for people looking to buy SUV's, as those gas guzzlers take no time to cut gaping holes in one's pocket (ask me, driving a pickup from South Carolina to New England and back on a student budget wasnt one of my brighter ideas). The New York Times has an interesting piece on it here (available to those with a subscription, which is free).
If gas prices continue to rise indiscriminately, Americans (especially) will assume driving positions that are closer to the road surface. Soccer moms may have to revert to driving station wagons again. Which means that car drivers wont have their scenery (ahead) obscured by vehicles that are 8 feet high. Now that can't be all that bad, can it?
There's usually an upside for every downside.
But a few people I know will be happier. For all the bad publicity that higher oil prices are associated with, there seems to be a silver lining to this issue. Higher gas prices are proving to be a significant deterrent for people looking to buy SUV's, as those gas guzzlers take no time to cut gaping holes in one's pocket (ask me, driving a pickup from South Carolina to New England and back on a student budget wasnt one of my brighter ideas). The New York Times has an interesting piece on it here (available to those with a subscription, which is free).
If gas prices continue to rise indiscriminately, Americans (especially) will assume driving positions that are closer to the road surface. Soccer moms may have to revert to driving station wagons again. Which means that car drivers wont have their scenery (ahead) obscured by vehicles that are 8 feet high. Now that can't be all that bad, can it?
There's usually an upside for every downside.
2 Comments:
Amen!
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