Sunday, August 17, 2008

Solving Pump Pain The underlying cause, of course, is that oil, coal and natural-gas prices have all gone berserk - with no relief in sight. What to do? Individually, of course, most of us will start conserving - people are already driving less, buying more fuel-efficient cars, etc. We'll keep on finding ways to save as prices stay high. Should the government mandate even more conservation? No, "too much" conservation is as economically harmful as "too little." Just consider the economic harm that would be delivered by, say, capping speed limits at 30 miles per hour, or banning recreational long-distance travel. Both would save gobs of energy - but at the cost of doing more harm than good....

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