Billionaire columnist Tom Friedman has another brilliant plan for Iraq today :
I believe there is an alternative strategy, but it will take two concrete numbers to implement: a date — Dec. 1 — and a price — $3.50 cents a gallon…But at the same time, we have to impose a tax that creates a floor price of $3.50 a gallon for gasoline — forever. This is also about leverage. It says to all the parties: we are going to conserve enough gasoline and spur enough clean alternatives to fossil fuels that no matter what you all do in the Middle East, we will not depend on you for energy.
While the increase in gas prices will certain have an impact on the cost of Tom's jet fuel, I imagine that the impact of an enormous immediate increase in the price of gas will be much worse for America's working and middle classes, who are still struggling to make ends meet, despite the ongoing boom for the wealthiest in our society.