The Price of Gasoline: Good News and Bad

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Since a high of $147 a barrel in July, the price of oil has dropped like a stone.  It’s now about $45 a barrel. Some oil economists say dollar-a-gallon gasoline is possible in the US some time next year. That sounds like good news, but it’s the product of a global recession, which the World Bank today called the worst since the Great Depression.  Would Americans jump back into gas-guzzling SUV’s? What about energy independence and alternative fuels? Should gasoline taxes be increased to combat global warming and promote international stability?  




Warren Olney