There was a near-argument at my local gym the other day.
A trainer came in from the parking lot moaning that she was “totally stunned” at how much it had just cost her to gas up her sport-utility vehicle. Others quickly agreed, one fellow pointing out it was even worse with his Hummer.
Then a woman piped up: “You should own an economical hybrid vehicle like I do.”
There was grumbling and a brief moment of tension.
Yes, it’s back: Gas mileage envy.
The last time it seriously flared up was in 1973 when the oil embargo sent gas prices through the roof.
People fought for places in line and shortages were common. Stories extolled the virtues of riding a bike, while sales of gas hogs came to a halt and compacts were adored.
Legislation enacted in 1975 set the required average miles per gallon for a manufacturer’s entire line of cars and, separately, for its trucks. The largest pickups and vans were left outside federal regulations.
Recent gas prices tied to Hurricane Katrina’s devastation along the Gulf Coast vividly point out that some vehicles consume lots of gas and are expensive to run.
While China recently adopted strict fuel economy standards that could significantly tax vehicles with large engines sold there, slick U.S. television commercials promote some hot vehicles with engines that deliver just 13 miles to the gallon.
More Top Picks Best Vitamin B Complex Supplements For Women
A Bush administration proposal to increase the fuel efficiency of most sport-utility vehicles, mini-vans and pickups starting in 2008 would require that such vehicles meet required mileage levels in six separate size groups. Requirements are tougher on light trucks and easier on larger vehicles. Meanwhile, giant vehicles such as the largest Hummer and the Ford Excursion still would be exempt.
Where would you place your bets?
– Over the past 12 months the stocks of the energy sector that include integrated oil and gas, drilling, equipment, refining and exploration companies were up nearly 50 percent.
– The stocks of the automobile sector during that same period were down more than 25 percent.
The market tells us energy will win out. We live in a volatile and often violent world in which no one can accurately predict future oil supply or prices.
If auto manufacturers don’t significantly take it upon themselves to improve gas mileage for vehicles of all sizes–beyond even what the government mandates–fuel costs will continue to dominate society and steal dollars from more important needs. In that process, we also can probably expect that the nameplates of the most shortsighted automakers will disappear altogether.
———-
Andrew Leckey is a Tribune Media Services columnist.