I don’t know why, but I always feel like I’m in a hurry to go somewhere when I’m transporting myself from one destination to another.  Take, for instance, on my way to work today.  I was getting off the metro at 7:40, and after a five minute walk to my job I was fifteen minutes early!  But I still squeezed my way to the front of the metro car to try to get the best positioning I could so I could move quickly.

Why do I feel the need to be in such a hurry when it doesn’t really matter?  I’m not sure, but there are tons of other people who act the same way.  There are plenty of people driving around on weekends who drive like maniacs trying to get somewhere quickly.  I’m sure some of them have some place to be, but there’s probably just as many that just feel the need to get somewhere quickly.  I don’t drive fast or anything, but when I get stuck in traffic - even if I have nowhere to be, I get angry.

George Bush says he will probably not watch “An Inconvenient Truth,” Al Gore’s movie about climate change that was recently released in a few select theatres in the US.  Why not?  The president responded:

“New technologies will change how we live and how we drive our cars, which all will have the beneficial effect of improving the environment,” Bush said. “And in my judgment we need to set aside whether or not greenhouse gases have been caused by mankind or because of natural effects and focus on the technologies that will enable us to live better lives and at the same time protect the environment.”

I call BS.  First off, I haven’t seen any major push by the Bush Administration to protect the environment that has actually done anything.  The only message we’ve got has been lip service.  I recall a state of the union where Bush pledged $1 billion (or something along those lines) to hydrogen fuel research.  Did that ever really happen?  Now the US is subsidizing ethanol, which is good, but at the same time ENACTING A TARIFF on it (i.e. politics screwing over the American people yet again) so we can’t get cheap ethanol from south America.  Last I heard it was good to take advantage of comparative advantage in international trade… not to wait until the major oil producers at home can take their time to convert over.  All in all - very little is getting done.  All of the major environmental protections today have been created before the Bush administration.  Here is what Bush has done for the environment, according to his own website.

The FTC quietly released information stating that they found no evidence that the oil industry manipulated gasoline prices following hurricane Katrina.  Previously, many legislators had claimed the main reason gasoline prices were so high was because the oil industry was manipulating supply.  It turns out, however, that the only thing being manipulated was the American public.

From the Washington Post’s article on Gas Price Manipulation:

Tasked by Congress last September with investigating the sharp increase in gasoline prices, the FTC said its eight-month study showed that companies had not restricted supplies or altered their product mix to raise prices after the hurricanes last year.

According to the article, there are still many critics who claim that the FTC has only touched the “tip of the iceberg,” and that there is plenty of price gouging.  However, I feel this is doubtful.

My personal opinion is that legislators who claim there is price gouging are those who refuse to admit, or want to avoid the issue, that we are overly dependent on oil as a country.  It’s clear that we are very dependent - small supply shocks cause huge changes in prices.  Claiming that the reason for these price changes is because of price gouging is attempting to avoid the issue.  Maybe I’m just making a gigantic assumption, but I really feel like this entire price gouging nonsense is just a way to coverup the underlying problem.

I just read that the new Tax Cut that Bush signed has a provision that triples the tax on teen investment income. From this article on the taxes:

According to the law, teens with investment income will no longer enjoy a special tax rate, and will pay the same rate as their parents.

For example, long-term capital gains and dividends that were previously taxed at 5 percent will now be taxed at 15 percent, and interest which enjoyed only a 10 percent tax may owe the Federal government as much as 35 percent.

Are you a teen saving for college on your own? Well, now you have much less money. Are you a teen that is trying to save money for a car? Well, you might as well just keep the money in your pillow instead of investing… sorry. But it’s ok, you’re funding the tax cuts for people with over $1 Million incomes, who receive about 90% of the benefits of this current tax bill.

Teens today already have enough trouble saving their money.  The nation as a whole does not learn the values of saving, which should be taught at a young age.  And if the incentive to save is dramatically cut, this will only further reduce the saving rate for young people.

Looking for a nice commuter car or a cheap car that gets the job done for a small family or college student? How about a car that gets 35 plus miles per gallon (city/highway average) and costs very little? Since there are many people in this market, I think Ford Motor Company could capitalize - big time - by bringing back the Ford Escort that existed in the mid 1990s.

I recently took a trip to New Jersey with my girlfriend, and we took her 1994 Ford Escort. Over the course of the trip from Herndon, VA to Oceanport, NJ, which was about 270 miles, we sat in a TON of traffic. For the first 1.5 to 2 hours, we crawled through stop and go traffic on the DC beltway and interstate 95. However, at the end of the trip when we filled up the gas tank, we found that the average fuel economy was 36 miles per gallon for the trip. It was awesome. Furthermore, the air conditioner worked like a charm, we had more than enough space in the car for two more people (although I wouldn’t recommend bringing five people on a trip in the Escort). Also, the car has 111,000+ miles on it already, accelerates fine, and handles great. Furthermore, it has never had any major mechanical problems. I know of very few modern day American cars that can boast such great qualities.