Part of me hopes high gas prices finally push us to invest in renewable energy, increase the efficiency of cars, planes, and factories, invest in public transit, etc.
But only part of me.
This scenario means improving the environment on the backs of working people. I can afford $4 gas, frankly. But how many people out there are losing their jobs because they can no longer afford the drive to work?
So I wish Obama had a clearer, short-term strategy for bringing gas prices down. I know, he's proposing working and middle class tax cuts to put more money in people's pockets all the way around. But I'm afraid this is a superficial solution.
I'm an American living in Canada (yes, the healthcare here is fucking awesome, thank you). For the last six months or so, the US dollar has sunk so low it's actually on par with the loonie for the first time in 30 years. This means that every time somebody sends me a check in US dollars, that check buys me much less stuff than it did two yeras ago when I first moved here.
I'm no economist, but since most of our oil comes from abroad, it stands to reason that a major factor in high oil prices right now is the weak dollar. Maybe somebody else can help confirm this. Has there been a correlation between the tanking dollar and rising oil prices?
If so, then Obama should announce that if elected, he'll take immediate measures to boost the value of the dollar. Moving back to a balanced budget would certainly help. Trying at least to curtail our booming trade deficits would help. I hope some budding economists can chime in here with other suggestions.
I do hope (dearly) we invest in renewable energy, and I have no doubt that Obama will do this, gas-price-crisis or no. I'm saying that we Democrats should also have a plan for renewing the price of the dollar.