[jyl]

I am, on balance, pleased when the price of oil and gasoline go up.

High oil/gasoline prices have positive effects. Drives investment in alternative energy. Encourages smaller cars, new fuel-saving technology, mass transit, and other conservation.

The downside is that the US economy suffers, inflationary pressure increases, global tensions over oil increase, and oil producers gain power (e.g. Russia, Venezula). But I think most of this is short-term and/or would happen anyway.

If it could be guaranteed that oil and gasoline prices would rise 10% per year for the next ten years and then stay high, I think the net benefits would be great.

Personally, since our family uses about 6-7 gal gasoline/week - and can get it down to 5-6 fairly easily - it doesn't have any meaningful "direct" impact on us.