Motorists are rejoicing! For the first time in quite some time, gas can be had for less than $3 per gallon!
Our long national nightmare is over!
I'm surprised that Obama, and/or the newly-elected Republican Congress, haven't already taken credit.
There are a lot of factors that go into the price of gas, but ultimately it boils down to supply and demand. Supplies are up - as fossil fuel becomes more valuable, there's more incentive to discover and extract it. North Dakota and eastern Montana and Wyoming are fossil-fuel beehives these days. Meanwhile, the middle eastern oil terrorists are keeping their prices low, in the hopes of starving out the small-time oil barons who are competing for a tiny slice of the pie.
(I doubt demand is any lower... they say that big SUV sales are creeping up. Sub-$3 gas will probably result in some GMC Conestogas and Ford Battle Wagons under the tree with big satin ribbons, come Christmas.)
Motorists are discovering... "Hey - if we spend less on gas, we'll have more to spend on other stuff! Cool!"
Transportation cyclists reply, "Well, DUH!!!"