Are High Gas Prices a Good Thing?

Posted by Mrs Money on June 16th, 2008

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200299877-001.jpgI went to lunch with a co-worker (who ironically is a financial adviser and Dave Ramsey Advocate) the other day, and as I brought up the wickedly insane gas prices, she commented with “I’m glad gas prices are going up.” After I finished choking on my water, I asked her why. There were many reasons. I heard her out.

  1. It makes people think twice about carpooling, making more trips than necessary, and their general fuel consumption. When people cut back, the demand for gas is going to go down and hopefully the prices will reflect that. The biggest factor here is the environment. With people carpooling more, and driving less, the environment wins, too.
  2. People will cut back on their spending in other areas. They will cut back on items that aren’t necessities, and maybe they will start paying off debt and saving when they realize that they CAN save money. It’s all about living below your lifestyle.
  3. It will make people exercise more. They’ll get out and do physical activities versus driving places to do things, or at least go play a game of soccer for entertainment. It will make Americans less fat and motivate them to walk to places more.
  4. We are researching other energy sources. Hopefully one day cars can be powered by water! Wouldn’t that be amazing? The consumers and the environment win again!

Personally I hate that gas prices are going up because I try to live a frugal lifestyle. I don’t want to have to spend more money than absolutely necessary (with the occasional splurge). What are your opinions on the gas prices? Are rising gas prices a good thing?

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  1. Does it Make Sense to Drive Farther to get a Lower Price on Gas? | The Ultimate Money Blog 19 06 08
  2. Personal Edge Insights - Barbara Ling » Archive » Make money with high gas prices - 109+ Resources and Ideas 25 06 08

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