Hooray for $8/gal

Americans should be celebrating rather than shuddering over the arrival of $4-a-gallon gasoline. We lived on cheap gas too long, failed to innovate and now face the consequences of competing for a finite resource amid fast-expanding global demand.

Maybe expensive gas isn't so bad if it is the impetus that weans us off our dependence on oil and breaks up our infatuation with the Middle East. Chris Pummer gives an optimistic spin to rising gas prices...