My Wallet Is Bleeding

No matter where you pump it, these gas prices hurt, and there is no getting around that. I returned from Maryland on Saturday, and I immediately noticed how much gas had gone up during my absence -- 20 cents. I was on 'E,' so I had to fill up on Sunday, and I did it reluctantly. I recently had three distinct gas experiences that I would like to share.

For whatever reason, the rising prices haven't caused me that much worry in the past, and I didn't think twice about filling up. $3.15/gallon? No problem. $3.24/gallon? Sure. $3.33/gallon? Why not? Then came Sunday night, when I payed $3.48/gallon, and that was the cheapest price around. I suddenly felt uncomfortable spending so much money to fill up my gas tank. A taxi driver was filling up his taxi next to me, and he began talking about how ridiculous the price of gas was. I agreed. He also spoke of being ready for $4 and $5/gallon. I agreed again. I don't know where the money is coming from, but I know where it's going.

One day while resting on a bench in Washington, DC, last week, it was tough to not overhear the conversation that was going on near-by. A woman with an Irish accent was commenting to her companion about how easy we Americans have had it when it comes to the price of gas. While it is true that fuel costs in Europe have been significantly higher for quite some time, the large taxes levied by European governments on gas go to provide their populations with services that us Americans have to pay separately for -- namely health care and college. And even if our prices are just normalizing with the majority of the world, its still not in our budget.

On our way back from Maryland on Saturday, while traveling on the New Jersey Turnpike, we decided to stop for gas -- obviously, because we were in Jersey and wanted to take advantage of their lower prices and full-service stations. We pulled off to the rest stop. Immediately we were plunged into a 100-car gridlock of people waiting in line for gas. And the worst part was that we couldn't even leave, because the way to the exit was blocked by the waiting cars. We lost at least half an hour. And as we sat there, I looked around at all the license plates -- New York, Pennsylvania, Connecticut, Massachusetts. I think I saw one New Jersey license plate.

Gas prices are hitting this country's economy hard. But what is to be done? John McCain has recommended that between Memorial Day and Labor Day, the federal government suspend it's 18.4 cent tax on gasoline, as well as it's 24.4 cents tax on diesel fuel. Some have expected this move would cost the federal government somewhere in the neighborhood of $10 billion. How can the government afford that? How would they replace that revenue? Where would the government get the money for the infrastructure repairs that these taxes fund? These questions have gone unanswered.

In addition to federal gas taxes, New York State levies it's own tax -- 41.2 cents per gallon for gasoline, and 40.3 cents per gallon for diesel. In comparison, New Jersey's gas taxes are 14.5 and 17.5 cents per gallon, respectively. It's no wonder so many people want to fill up in our neighbor to the south.

So, what can be done about this? Well...really nothing, except to use less to try to lower the demand, and invest more in renewable energy (though not products like ethanol, which not only uses a remarkable amount of oil to produce and doesn't burn very cleanly, but also contributes to the growing food shortage in the world). Until then, we'll just keep on paying. As my father says, "It's just money. You can't take it with you." Maybe, but my wallet is bleeding.

"You know – you know that since George Bush has become president, gas has basically tripled in price. Now, Bush is an oil man. I’m not a conspiracy theorist. I’m just saying that if we had elected Colonel Sanders president and the price of chicken had tripled, I’d be a little suspicious."
-Bill Maher