How Cheap Gas Hurts Green Initiatives, Feds' Bottom Line

Charles Lane points out a surprising trend: Americans are driving less

(NEWSER) - When gas prices spiked in April, Americans reacted in a logical, yet surprising way: They drove less. It's a sign, writes Charles Lane of the Washington Post , that America's love affair with the car is on the rocks. Getting a license, for instance, isn't the "rite of passage" it used to be; only 28.7% of 16-year-olds got their licenses in 2010, down from 44.7% in 1988. Lane blames cell phones, which make "it easier for youngsters to stay in touch without actually, er, touching." More»

Sure, policy affects things ... eventually

(NEWSER) - As gas prices rise, President Obama's approval rating falls , which makes sense, because those painful numbers at the pump are all his fault, right? Wrong, say oil experts and economists. The Washington Post breaks down their arguments:

• Policy: It definitely affects things, but it takes a long time for that to happen. Cars can take a decade to turn over, for instance, so tightening fuel efficiency rules doesn't kick in immediately. One expert notes that legislation George W. Bush signed in 2007 is helping stop the "current situation from getting worse."

New book says Obama's team routinely undermined him

(NEWSER) - In March 2009, in the throes of the financial crisis, Barack Obama told Tim Geithner to focus on a proposal to dissolve Citigroup—but the Treasury Secretary ignored him and never developed a plan, according to former Wall Street Journal reporter Ron Suskind’s new book Confidence Men. In the book, which was obtained early by the AP and the New York Times , Suskind writes that Obama’s “authority was being systematically undermined or hedged by his seasoned advisers.” More»

As US drivers complain, those overseas think we're lucky

(NEWSER) - Gas prices are climbing again, which means people are complaining, which means it's time for a spate of stories showing how relatively cheap gas remains in the US. Here's a rough estimate of world prices per gallon, courtesy of CNN :

• US: $3.53
• Norway: $9.28
• Europe: Between $7.50 and $8 for most, including Britain, Ireland, Italy, France, and Germany.

Regulation will be good for Wall Street and Main Street

(NEWSER) - President Obama will today ask the banks to call off their "furious efforts" to block his proposed financial regulatory overhaul. "I believe that these reforms are, in the end, not only in the best interest of our country, but in the best interest of our financial sector," he says in prepared remarks. The goal, a White House rep tells the Washington Post is to remind people "what's at stake" in the politically-charged debate. More»