Gas Prices and Energy Policy

On a recent flight, a fellow passenger and I compared gas prices in our areas, which happen to be $2.69 in Chicago vs. $2.19 in Cincinnati). Although this is a far cry from the $4.00+ of not long ago, I’m sure all of us welcome the relief to our monetary pocket.

With failing gas prices in mind, I ask the following questions:

  • Will the public fall back into old driving habits?
  • Will the public continue to demand a progressive energy policy from Washington?
  • How will falling prices affect oil company profits?
  • Will the oil companies tighten supply to raise prices?

One thing for sure, as prices fall the public reacts less – which in turn keeps our energy policy in the file named Rhetoric.