From a pocketbook perspective this price is great - in fact it's been several years since we've seen prices this low in the National Capitol Region.
Problem is, lower gas prices severely underprice the environmental impact of their associated carbon emissions. So while many educated and well meaning people are trying to reach an agreement in Paris to address our growing Climate Crisis, they are being undermined by the local economics of cheap gas. Unless we can change the economic incentives, all the Paris's and Kyoto's in the world won't save us from our own hubris.
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One of my back-burner projects here in California is monitoring the fate of what looks like a oil-industry front group called Fed Up at the Pump. There big objection is the hidden gas tax they claim is in our state's greenhouse gas reductions. Since they came out, gas prices have dropped in half, taking a little wind out of their sails after claiming the tax would raise gas prices by at least 60 cents per gallon. The low price also supports the notion that we could tax fuel consumption a little more.
jg
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