Gas Complaints

According to this Slate editorial, Americans should quit complaining about high gas prices, for several reasons. First, gas is only about 20% more expensive than it was in 1922, when demand was much, much lower. Secondly, it is still much cheaper than in other industrialized countries: In Great Britain, for example, a gallon of gas costs an average of $8.38. Thirdly, an increase in gas prices is the only proven cause of reduced oil consumption, a fact which should make the people in the “Go Green” movement cheer for the prices to keep going up. Throw in the huge spike in demand for oil in recent years (caused by the fast industrialization of China and other countries) and the instability in major oil-exporting regions of the Middle East, and the question people should be asking is not “why is gas so expensive now?” but rather “why is gas still so cheap?”. Americans seem to have been spoiled by low gas prices in recent years, and are overreacting to the cost increases because they are unaware of how good they’ve had it … and still do have it.