Americans Can Tolerate 5$ Gallons Of Gas

Given that gas prices usually spike in late spring due to refineries shutting down for maintenance and that the West is in a prolonged game of chicken with Iran, everyone’s predicting that gas prices will hit 5$/gal this summer. So Gallup asked Americans at what point the price of gas will start causing problems; the answer was 5.30$, which is a surprisingly high number. Granted, a large minority of 40+% of people surveyed said their uncomfortable price was somewhere below 5$, but the clear majority will weather that cost just fine. And 10% of the people would be fine with even 7$ gas.

 

The survey also discovered that 90% of Republicans are either stupid, hypocrites, or both: when asked if government should try to stop the increase in gas prices, they said yes. Embarrassingly so, only 81% of regulation-happy Democrats agreed. Either the Republicans surveyed have no idea that they are against government involvement in the market, or when it comes down to brass tacks, they just care more about money than values; also, cheap gas is somehow completely and totally different than cheap healthcare.

Speaking of inconsistent policies when it comes to gas, Energy Secretary Steven Chu famously said in 2008 that he wished gas prices were as high here as they were in Europe, because it would help fight global warming and save the environment. But now that his wish is coming true and Obama is taking a hit in the polls because of it, he reversed his stance, saying gas prices should go down because it would help save the economy. Maybe since Geithner isn’t coming back for Obama’s second term, Chu has his eyes on the Treasury Secretary position.

From Gallup, via Marketplace

2 Comments.

  1. More Drilling Doesn’t Make Gas Cheaper | Apt46 - pingback on April 12, 2012 at 6:24 pm
  2. Only 13% Of American Oil Comes From The Middle East | Apt46 - pingback on April 12, 2012 at 6:39 pm

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