CBS News Portrays $7 Gas as Positive

[HT:JK]
Economists from Canadian Imperial Bank of Commerce (CIBC) (NYSE:CM) foretasted $7-a-gallon gas prices by 2010, which according to some analysts would force 10 million vehicles off U.S. roads over four years. CIBC based its prediction on $200-per-barrel oil by 2010.

"In fact, by 2012, higher prices could send an additional 10 million vehicles off the road," CBS correspondent Priya David said. Although $7 gas would do the most harm to low-income Americans, David praised the effects it would have in easing congestion.

"It would certainly ease congestion. Having that many cars come off the road would be like permanently parking twice as many cars as there are in the state of New Jersey," David said. "Some look to Europe for solutions to the skyrocketing gas prices."

[Europe's 2/3 scale old cities aren't suited to cars - our society is built around it and has a higher standard of living as a result (fewer of as climb stairs to apartments and we enjoy yards because we commute to the 'burbs' - anytime we want with whatever stuff we want {Carlin would be proud}. Let's look to ourselves for our own 'solutions'.]

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