COMMENTARY | Gas prices are higher than ever for this time of year, and it's only getting worse.
According to an article in USA Today, as spring progresses into summer, gas prices will only go up. This will negatively impact the economy, slowing growth that is "only moderate" after a recession. Gas prices are a hot topic this election year. Newt Gingrich is saying we must make use of more of our own resources, a position that Rick Perry also took early in his campaign. Is it really that simple?
Brad Plummer of the Washington Post Wonk Blog makes a strong case that it isn't. While many people are feeling satisfied that the peak oil threat is over, he says "not so fast." Regardless of whether we drill for more oil in Alaska, the Gulf of Mexico and North Dakota, these oil fields in the larger context hardly make a difference. Energy independence, even if it is possible, does not translate into cheap gas. We can't separate ourselves from world events that impact how much it costs to drive.
Americans are already driving less, and this trend will have to continue. We are importing 15 percent less oil that we did in 2005, and gas prices keep going up. With the increasing use of hybrid vehicles, reduced consumption is possible, and if we take a long view, inevitable. When we go to the polls in November, do we choose a short term band-aid to preserve our convenience, or do we think about our future? This is the time to explore renewable energy, not trash our environment to buy a little more time.
The upcoming election puts a lot of pressure on the president to appease environmentalists, as well as show commitment to creating jobs. Slowing down the relentless climb of gas prices would also make voters happier. According a January article in USA Today, President Barack Obama's decision to reject the Keystone oil pipeline has been targeted by Republicans as evidence that this administration is not committed to creating jobs or energy independence.
The president's position is that more study of the impact is needed before making a decision. Further progress has been tabled until after the 2012 election. If Plummer is right in his assessment of the peak oil problem, the Keystone Pipeline won't make much difference anyway.
Demands for more domestic oil production will only postpone the inevitable. Alternative fuel sources will be required, so we might as well do it now rather than later. Discipline is hard. Just how big an issue is the Republican campaign going to make of this, and if Obama is re-elected, what he will do about it in the next four years?
I hate paying over $4 a gallon for gas. I doubt that whoever ends up in the White House will be able to make that go away.
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