Oil prices are collapsing. I see this as a mixed blessing. On one side I am happy that oil exporters get to make less money doing nothing. On the other side I am concerned about more CO2 emissions around the world and a slower shift to alternative energy. So what I would love to see is for the US and EU governments to leave gasoline prices as they are now and as oil prices go down to keep the differences in taxes. This would reduce their gigantic deficits, help alternative energy, reduce the oil import bill and reduce CO2 emissions.
Here is my first contribution to Freakonomics. It relates to gasoline prices. I was recently in the States and read articles, one that emphasized that while in America consumers were very concerned about the rise in the price of gasoline, in Europe people were less worried. In the article there were many unusual theories as to why this may be the case.