Tallying Up the Cost of Gasoline

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Jon Chait talks about the externalities associated with oil drilling and gasoline use:

Most public attention has focused on the cost of emitting carbon into the atmosphere, but the costs of cleaning up the inevitable spills, and the military foreign policy costs of enriching petro-states, which tend to be unfriendly, and having to secure foreign oil supplies are highly significant. If all these costs were paid at the point of sale, people would switch to other energy sources.

If you were to sum up the cost of IQ losses from leaded gasoline (now gone, of course, but the effects live on), the asthma epidemic among today’s kids, military protection of the Middle East, global warming, garden variety smog, plus all the more prosaic things like traffic jams and so forth, I wouldn’t be surprised if the real cost of a gallon of gasoline would have to go up by three or four dollars to pay for it all. Hell, if the BP blowout ends up costing, say, $5-10 billion, which isn’t an unreasonable guess at this point, that’s a nickel a gallon just for that.

On another note, William Galston has a piece here speculating that the real blame for the blowout ultimately rests with Dick Cheney. I sort of hope that turns out to be true. It would restore my faith in the proper workings of the universe.

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Truth #1: The chaos is the point.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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