Don't Quit Your Day Job
For those interested in why my day (and night) job is, here's some info. (Don't go to the lab website for a while, it was butchered recently.)
This wasn't supposed to be a shameless self promotion post, though. I received an email from an activist friend who said he would like to see gas go up to $20/gallon. Although Kevin's analysis isn't perfect, he provides food for thought:
There's a substantial segment of the population that spends a very big chunk of their income on gasoline, and in the past 12 months they've seen gasoline prices increase by 50% — and that's at a time when household income has been decreasing for five years running and household debt is already sky high.This doesn't even consider secondary costs due to high gas prices. That is, how much the price of food and other products increase due to increased transportation costs.
At $20/gallon for gas, how many people would have to quit their job because that the price wouldn't make it worthwhile to go to work? Take someone who makes $8/hour who lives 25 miles from work and has an old car that gets 25 mpg. The round trip of 50 miles means that they would need to spend $40 a day on gas. At $8/hour ($64/day for a 40 hour week), that is 62.5% of their daily income spent on gas! God forbid they have to drive any considerable distance to get groceries or other necessities, which they probably couldn't afford anyway.
I understand that the environment needs to be taken care of, but letting gas hit $20/gallon would be devestating for millions of people.