Watch CBSN Live

We're Hooked On Cheap Gas

This column was written by CBS News Early Show co-anchor Harry Smith.

Let's face it: Americans have been spoiled by low gas prices. The president said it himself: We're addicted. So when the junkie has to pay more for a fix, what happens is not good.

Looking at the latest CBS News polling data tells quite a story. When asked if the government is doing all it can to keep prices down, 87 percent said no. 87 percent.

How about the president's handling of gas prices? Seventy-four percent disapprove. Finally, when asked if the Bush administration is doing a good job keeping prices down, 82 percent say no.

If you believe that it's your God-given right to get cheap gas, then this current price spike is probably testing your faith. There seems to be no end in sight. Some analysts say the price of a barrel of oil could go up another $10 or $20.

But wait. The unintended consequence of the price spike is that consumption, which always goes up, is actually flat. And guess what: If we use less, it will cost less.

Harry's daily commentary can be heard on manyCBS Radio News affiliates across the country.
View CBS News In
CBS News App Open
Chrome Safari Continue