The upside of the low gas prices is that consumers are saving lots of money.
The downside is that some people quickly forget and return to buying gas guzzlers. Plus, the country feels less pressure to find alternative fuel sources.
Well, as expected, President Barack Obama is warning Americans that cheap gas prices won’t last indefinitely, and he’s standing by his support of small, fuel-efficient vehicles, the Detroit News writes.
“I would strongly advise American consumers to continue to think about how you save money at the pump because it is good for the environment, it’s good for family pocketbooks and if you go back to old habits and suddenly gas is back at $3.50, you are going to not be real happy,” Obama said in an exclusive telephone interview with The Detroit News on Tuesday, the eve of his visit to Ford’s Michigan Assembly plant in Wayne.
Obama said “folks should enjoy” low gas prices, but cautioned that they won’t be around forever, David Shehpardson of the News reports.
“The American people should not believe that ... demand for oil by China and India and all these emerging countries is going to stay flat. Just demographics tell us demand is going to continue to grow, that over the long term it will grow faster than supply and we have to be smart about our energy policy,” Obama said.
