Living in The Netherlands, which has about the highest gas prices in the world, I felt compelled to answer to the post below made in the Saturn V thread:
It's already rapidly approaching $7 a gallon in Europe.
Unfortunately, that's like comparing apples and oranges. More than half of that $7 is taken up with a value added tax, i.e. a national sales tax.
Correct: there's a huge amount of tax on it.
The person paying almost $7 a gallon in Europe pays no social security tax, no fereral or state income tax, has free medical care, etc.
Incorrect: more than HALF my income goes to social security taxes and health care. Sales tax here is at 6% for food, and 19% for everything else.
That's not the story in the good ole US of A. If gas goes to $7 a gallon here, I'll be paying 175 a week for gas
Which is about 150EUROs which is indeed about what I currently have to shell out every week.
Sorry to break your bubble, but don't think for a minute gas prices here are offset by other things in the simplistic way you implied here
