5-DOLLAR GAS: GOOD?

WIRED revives an older essay, presumably to console us as we approach a new reality. Not to pick on Reiss, whose economic point of view seemed astute back then, but the thoughts now reveal how far we’ve come in 2 short years.

Why $5 Gas Is Good For America
Spencer Reiss, December 2005 (Wired Magazine)

WHO
Spencer Reiss, energy specialist and very bright guy
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WHAT
Writing on rising gas prices at the end of 2005, Reiss argues for the brave new world higher fuel prices would bring on… And nary a word about climate change or carbon dioxide emissions.

WHEN
December 2005 issue.

WHERE
Reiss was writing in Wired Magazine but a Google search reveals that he is Connecticut-based.

WHY
He cited:
- Easy oil supplies peaking
- Rising demand in “BRIC…economist-speak for Brazil, Russia, India, and China”
- Ugly headlines: insurgency in Iraq, unrest in Venezuela, mayhem in the Gulf of Mexico.
He predicted:
- at $40: Compressed natural gas and tar sand fuel
- above that: Coal synfuel, Corn, sugar, soybean and biowaste biofuels
- at $60: hydrogen and shale
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QUOTES
- “And some seemingly distant options are right under our noses; consider the plug-in version of the hybrid car.”
- “Savor the long faces worn these days by Hummer salespeople.”
- “So what's a price-shocked, carbon-afflicted highway jockey to do? Keep driving. In fact, drive more. The longer gas stays expensive, the higher the chance we'll see alternatives. Put that pedal to the metal. And smile when you see a big black $3 or $4 out in front at the gas pump. Those innovators need all the encouragement they can get. Shale oil, uranium, sunlight - there's enough energy out there for a dozen planets. Where we'll all park is another matter.”