Gas Prices

Two weeks ago, Hillary Clinton introduced a bill in the Senate to provide emergency funds for local transit agencies. Since then, the rest of the delegation from New York and New Jersey appears to have lined up behind the legislation. "We believe that Senators Schumer, Lautenberg, and Menendez support it," says Larry Hanley of the Amalgamated Transit Union, which helped to push the bill forward in both chambers of Congress (the House passed it in June). That leaves 56 votes to achieve a filibuster-proof Senate majority.

Back in his Straight Talkin' days Senator John McCain acknowledged that offshore drilling wasn't a viable solution for America's energy troubles. In 2003, he broke with the Bush Administration and co-introduced legislation to reduce carbon emissions, by, in effect, imposing a price on them. McCain had a reputation for being a politician who told the American people the truth, even when the truth wasn't something that people particularly wanted to hear. But the past few weeks have seen a fundamental change in McCain, writes Elizabeth Kolbert in an outstanding piece in this week's New Yorker:

Transit operators struggling to keep pace with demand as rising fuel costs strain their budgets received some welcome news on Friday. New York's junior senator has introduced a version of the Saving Energy Through Public Transportation Act. The bill, which would provide $1.7 billion for local transit agencies over the next two years (including $237 million for New York City), passed the House in June but lacked a Senate sponsor until now.

Here's an alternative to the "Drill Now!" mantra that doesn't involve ethanol subsidies or depleting the Strategic Petroleum Reserve. Earlier this month, Congressman Earl Blumenauer introduced the Transportation and Housing Choices for Gas Price Relief Act [PDF]. Blumenauer's hometown paper, The Oregonian, calls the measure a "smart bill":

Tom the Dancing Bug by Ruben Bolling. Click through to view the comic in its entirety.

U.S. Transportation Secretary Mary Peters said yesterday that due to declining gas tax revenues, the Highway Trust Fund would need to borrow money from its mass transit account to pay for road projects. Today's big news story was buried at the bottom of page A17 in the New York Times:

The Gas Tax Holiday may have petered out, but John McCain still has a lot of petroleum-based populism left in the tank. His latest campaign ad, "Pump," primes the audience with a little wishful thinking.

Via Planetizen, Richard Florida argues the decline in the popularity of suburbs is not just a product of rising oil prices, but a result of a new "spatial fix" that is reorganizing how and where people live their lives. From Florida's column in the Globe and Mail:

In a story about the housing downturn, BusinessWeek had some numbers crunched to see where home prices have remained most stable and where they have declined most precipitously: