Two-Buck Gas Likely to Fuel Re-Addiction to OPEC, N.Y. Times Columnist Writes

Two-Buck Gas Likely to Fuel Re-Addiction to OPEC, N.Y. Times Columnist Writes

The 2 is back. Last week, U.S. retail gasoline prices fell below $3 a gallon -- to an average of $2.91 -- the lowest level in almost a year. Why does this news leave New York Times op-ed columnist Tom Friedman with mixed feelings?

Because in the middle of this wrenching economic crisis, with unemployment rising and 401(k)'s shrinking, it would be a real source of relief for many Americans to get a break at the pump. Today's declining gasoline prices act like a tax cut for consumers and can save $15 to $20 a tank-full for an SUV-driving family, compared with when gasoline was $4.11 a gallon in July, he writes (registration required).

Yet, it is impossible for him to ignore the fact that when gasoline hit $4.11 a gallon we changed -- a lot. Americans drove less, polluted less, exercised more, rode more public transportation and, most importantly, overwhelmed Detroit with demands for smaller, more fuel-efficient, hybrid and electric cars. The clean energy and efficiency industries saw record growth -- one of our few remaining engines of real quality job creation.

But with little credit available today for new energy start-ups, and lower oil prices making it harder for existing renewables like wind and solar to scale, and a weak economy making it nearly impossible for Congress to pass a carbon tax or gasoline tax that would make clean energy more competitive, what will become of our budding clean-tech revolution?

This moment feels to him like a bad B-movie rerun of the 1980s. And he knows how this movie ends -- with our re-addiction to oil and OPEC, as well as corrosive uncertainty for our economy, trade balance, security and environment.

Scott Doggett:  is an AutoObserver.com Associate Editor.