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Three dollar gas? You know you'll pay it

Gas has broken the $3.00 mark in many U.S. markets, already above the Energy Information Administration's projection of $2.84 for this spring. Although crude oil prices have dropped recently, bottlenecks at the refinery level have driven gasoline higher.

So go ahead, rant a bit. I'll wait. Don't forget to curse Exxon Mobil (NYSE:XOM) and BP p.l.c. ADS (NYSE:BP).

Now for the ugly truth. I'll pay it. You'll pay it. Why? Look at the alternatives --
  • Car pooling? Sure, that works if your pool partners have good hygiene, aren't attractive enough to threaten your spouse, don't chatter on endlessly about the Cardinals or their nephew the doctor, don't drive too damn fast or too damn slow, don't respond to their voicemail in a voice like a foghorn, and don't need to make just one teeny stop at the dry cleaners.
  • How about public transportation? It probably works well in large cities such as New York, but for most of us, public transit equals losing half an hour's sleep, walking to the bus/train stop, breathing diesel, latching onto every bug spread by people for cryin' out loud don't you know enough to cover your mouth when you cough, and wet shoes. Always, the wet shoes.
  • How about walking? It's about six miles from my house to downtown, about an hour and a half each way. At the fed's $.45 per mile, call it $4 and change a day, round trip. My time is worth more than the $1.33 an hour I'd save. Not to mention the added cost of beer (a nice pub in the Short North), falafels, and other enticements along my route.
A population that spends billions of dollars a year on Nuticles, Elvis bobble-heads and bowling, won't be scared onto their feet by three-dollar gas. After all, isn't that why God invented credit?

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Last updated: May 24, 2012: 11:32 PM

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