Gas Prices Falling

Rockford - Many drivers today may find themselves with some extra spring in their step. The reason behind their cheery disposition may be because they have a little more change in their pocket. In case you haven`t noticed, gas prices are starting to fall. Just last week, oil prices fell more than three percent to less than $52 a barrel, setting gas prices around the $2.08. Now for the first time in months, some Stateline gas stations selling gas for as cheap as $1.99. One driver we spoke with today was happy, but he says hes going to hold off on celebrating. Ron Demes said, "They`re finally coming down a little bit. They were pretty high, but I think they`re back where you can finally tolerate them again." Yesterday in his State of the Union address, President Bush focused some on ways the country could reduce its dependence on foreign oil. He proposed a startling sevenfold increase in U.S. biofuels production in only a decade. But local economic experts say, the President`s noble effort may fall short of his goals. Robert Von der Ohe, Professor of Economics at Rockford College said, "The increase he`s talking about in terms of coming from biofuel would not even offset the increase in crude oil we need, just simply, because of the cars on the road." Von der Ohe says for the country to really become independent, Americans may want to get ready to pay more at the pump. "I think the real way to do it would be to impose some kind of gasoline tax and couple it with some really serious fleet mileage goals for the auto industry to meet," said Von der Ohe. He suggests Americans paying somewhere around three dollars a gallon. That way the additional funds from the gas tax could be used towards finding new resources to develop crude oil and alternative energy. But it be some time before drivers are willing to pay that.