I was listening to a fellow economist the other day discussing the issue. According to him, the traditional (normed for inflation) price of gasoline would currently be in the $2.00-2.25 range. This would have paying the same for gas when we paid $0.59 in 1974. The average oil company profit is 10 cents on each gallon, from which those damaged Gulf oil rigs must be repaired/replaced. The average tax on each gallon is 45 cents, federal, state, etc.

For those who favor a windfall profits tax, think - that money will only go to the government, i.e., "the people." The price will not decrease. Perhaps we should press the government ("us") to reduce the tax load. Last week we in Colorado voted to increase our taxes with one reason being better roads. What happen to those billions of gasoline tax dollars?

Another unforseen consequence of good intentions has lately appeared. Access to HOV lanes has been allowed for single riders in hybrid vehicles. HOV lanes are becoming overcrowded. In many cases the 30 mpg hybrid gets less mpg than the small gas only car (Honda Civic) next to it buts gets privileged because of the perception of "doing the right thing."

Consolidate your trips, don't burn a gallon of gas to go to Starbuck's to buy a $5 cup of "coffee" and just remember, by the end of the year we'll be talking about some other big problem.