The Upside of High Gas Prices

We've all seen the headlines, read the stories, and experienced the anguish first-hand when we pull up to the pump and drop a frightening portion of our weekly paycheck on gas.

Currently, in my area of Massachusetts, regular gas is around $3.85 per gallon. What's scary is, this seems cheap compared to the $4-plus that most gas stations were charging about a month ago. But I think back to about 10 years ago when gas was $.98 a gallon and something just seems a bit OFF.

And while I don't pretend to be a financial expert that understands all the factors that are causing these high prices, I do know it has to do with oil speculators and the simple economics of supply and demand -- demand has never been higher, so suppliers are in control and can basically gouge the consumer.

But even as I cringe while I drive by local gas stations, I realize that there is a positive side to all this. Have you been listening to car commercials lately? Almost all of them advertise a car's MPG, or miles per gallon, rating as one of its selling points. I recently saw a commercial for a Buick Enclave SUV that claimed it got better gas mileage than an Acura MDX. That's probably the first time I've ever seen a car company bring up an SUV's gas mileage in its promotional efforts.

What's more, many people are trading in their gas-guzzling trucks and SUVs for smaller, more economical cars that use less gas and thus save them money. Suddenly, with high gas prices looming over us (at least high relative to what we're used to - from what I understand, other countries have experienced prices like these for some time) we have to start being a little more conscious of how much gas our vehicle is going to burn through.

Now, we can't just troll around in our unnecessarily large vehicles and be unconcerned as to the impact that vehicle is having on the environment in terms of the amount of gas consumed to power a weekend trip or the daily commute to work. With gas prices making an impact on our wallets, we're forced to think about more economical, practical means of travel.

It's too bad that it takes something like ridiculous gas prices to force us into being more reasonable about the vehicles we drive. But if that's what it takes, then maybe high prices are a blessing in disguise.

True, some drivers will have to cut back in other ways besides just driving more economical cars -- maybe they'll have to eat out less, buy fewer drinks during the next trip to the bar, waste less money on things they don't need, or just be generally more conscious of how they spend their money. I know for some invididuals and families high gas prices have been one of many financial hardships, and it has not been easy.

But for many, it will be enough to trade in that Yukon XL for a Toyota Camry, or go the Hybrid route and take a small financial hit up front for savings over time and the knowledge that they're doing their part to protect the environment.

In any event, we should remember that these gas prices are not only a natural effect of supply and demand but a wake-up call to drivers that we can't just consume a vital natural resource wastefully. High prices will force drivers to consider more economical means of transportation and they'll also speed up the search for other sources of power, which will have benefits on multiple fronts.

Our oil supply is not infinite, and we can't just keep burning through gasoline with no concern for the impact it has on our environment. And now, because of high gas prices, we won't be.