High Gas Prices and the Left Wing Dilemma
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 Seed Newsvine |
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It has long been recognized by economists that America's fixation with oil rests with the fact that its relative low price makes too much economic sense. Oil's cheap price in relation to other energy sources deter both interest and investment in alternative energy. Long term implications get overshadowed by present day economics. Oil has been for the past century the cheapest form of energy (as long as politics makes nuclear power impractical). Equally important, it has been recognized that a definitive move to alternative sources of energy would be met with increased Middle East oil production and a subsequent drop in prices in order to skew the economics back in favor of oil.
In recent months the oil market has been testing this economic equation. At what level can the price of oil rise before consumer demand drops enough to bring the prices back down? Based on recent figures the market price is approaching this level. American usage of oil dropped in the first quarter of 2008 and may drop even further if the typical summer increase does not materialize. These changes; however; only reflect short term price and demand. Long term it may now be unlikely that oil is going to drop back down to a level where we still refer to it as "cheap."
This poses a dilemma for the left. Serious conservationists have argued that expensive oil is necessary to change the culture of dependence. Expensive oil is now here and the average American family is paying nearly $3000 a year more just to drive their cars and heat their homes. Is the left now going to embrace these prices? Are politicians going to tell the public to "suck it up" for the long-term benefit of the nation? Probably not for the basic reason that no one likes to say "I know it is going to hurt but I'm doing this for your own good." Hence the dilemma and the only ones that really have a right to crow are the Toyota Prius owners and others that acted irregardless of the price of oil.
Reality has a way of exposing hypocrits. Al Gore's 10,000 sq. ft. energy hog home exposed him. Celebrities jetting to an event in oil guzzling aircraft to be picked up by alternative energy vehicles exposes them. Politicians calling for conservation while at the same time trying to remove the economic incentive to conserve with efforts to reduce the price of oil exposes them. Frankly, it's time to put up or shut up. If America is going to seriously pursue alternative energy the current price level is just the incentive needed. I just wish the price would have stayed low until my Hummer lease expired.
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