Give yourselves a hand America. We actually did something that was both fiscally and environmentally beneficial at the same time.
We are consuming less gasoline, causing slacking demand, and dropping prices. This is great news for airlines, truckers, the cost of living, and the cost of food. Americans drove about 254 billion miles in August, nearly 6 percent less than during the same month a year ago, the Federal Highway Administration reported Friday.
This is great news for all of us. I would like to see some increased taxation in the price of gasoline to discourage people from going back to their old ways and forgetting the lessons of oil price history.
Everyone who is older then me remembers the oil spikes of 1973, and 1979. So lets keep the cost of gasoline high though taxes and then we can quit buying it from countries that generally do not like the United States of America.
Moral of the Story: Using less fuel makes everything else cheaper.
Excellent point. Now that prices have slakened a bit, add some tax. But be sure to REDUCE tax an equal amount somewhere else. How about corporate income tax. This would make us more competitive and reduce flight to lower tax countries. This would spur employment and fill state and local coffers.
6% is good. Another 6% next year would be even better!