By MIKE JONES Associate Editor on May 12, 2009, at 1:57 PM Updated on 5/12 at 1:57 PM
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The economy is getting better. Whether it is long-term or only a blip in the recession remains to be seen. The price of oil went up again. At last check on Tuesday, it had risen to $60 per barrel for the first time since November.
We all know what that means. Higher prices at the pump. It was right around $2 a gallon this morning. It will probably go above that soon.
That's not all bad. Of course, higher oil prices are good news for Oklahoma's economy. And higher gasoline prices mean a renewed interest in fuel-saving vehicles.
After $3-a-gallon gasoline last year dived to below $2 this year, orders for vehicles such as Toyota's Prius declined. Look for that to change again soon.
I'm not sure what the ideal price of oil ought to be. It would be nice to reach a happy medium that keeps the oil companies in business but doesn't gouge the consumer. It also would be nice to keep gasoline prices high enough that research into fuel-saving vehicles would continue.
Many experts believe that there will be bigger changes in the auto industry in the next 10 years than there have been for the last 100. That's encouraging. We might even see a new company emerge that will rival the popularity of the legendary Big Three during their heyday.
We need to conserve fuel. We need to break our dependence on foreign oil and continue to strengthen our domestic producers. We will always need oil for something and getting all or at least a great deal of it from home is good for everyone.
Yes, gasoline prices are going up. But that might not be an entirely bad thing.
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