10 Things You Can Like About $4 Gas

Thu, 2008-07-17 08:24Richard Littlemore
Richard Littlemore's picture

10 Things You Can Like About $4 Gas

Time magazine weighs in with a short, sharp commentary that acknowledges the (market-) motivating effects of high gas prices.

'Course, an eleventh thing you could like about $4 gas is that it would be cheaper than what many of us are buying today ….

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for the US dollar equivalent for a US gallon in British Columbia. And my sister reports that she’s paying $8.32 in Iceland….

Try checking out the Drive $marter Challenge http://www.drivesmarterchallenge.org to save money on gas. You can enter your specific vehicle data and figure out how much money you can save my taking six fuel-efficiency steps. They also provide other fuel-efficiency tips to help you save on gas costs. – Kat, Alliance to Save Energy

The oil price can’t increase forever, long term, because everything you can get from oil you can also get from coal. Check out coal to liquids plants. The reserves of coal, worldwide, are enough to power this civilization for 400 years. Conventional oil production may have peaked but given normal garden variety market forces such as those driving the Kentucky coal to liquids plant announcement, the natural floor price if it really is peak oil and production can not increase will be the cost of oil from coal. The best analyst I’ve read along these lines is Marc Jaccard, whose book “Sustainable Fossil Fuels” makes interesting reading.

However, the climate change issue is independent of the cost of oil. The problem is that fossil fuels are so cheap and available. No serious climatologist doubts that there is enough carbon in various fossil fuels so that this civilization can raise CO2 levels if it so chooses to beyond 2000 ppm over the next hundreds of years as every last bit of coal is dug out.

My motorcycle.

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