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Monday, April 25, 2005

Where are the cheers for the increasing price of gasoline?

An issue that is getting very little play in the blogosphere now in the increasing price of gas. I never thought I would see the day where gasoline prices stayed above $2.00 a gallon for a sustained period.

I am a little surpised that progressives are not cheering this development. Afterall, progressives tend to be the ones most in favor of public transportation, federally-mandated fuel efficiencies for automobiles, and alternative sources of fuel.

From an economic perspective, the increased gas prices should help their cause. There is evidence to show that people are starting to change their daily routines because of the higher cost of driving. I'm sure that there are people kicking themselves now for recently buying that new SUV that gets 10 miles per gallon.

So what is the economic impact of rising prices? Reduced demand. Isn't that what progressives want?

Ironically, some progressive blogs that I have read are horrified at the increasing price of gas and want to use it as an albatross around the President's neck. Shouldn't they be cheering?

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