The U.S. Environmental Protection Agency said Wednesday that it would temporarily allow widespread sales of a higher ethanol gas blend in a move that they hope will tamp down consumer prices that have soared since the Iran war began.
The sale of E15 is typically discontinued in the summer because it can contribute to harmful air pollution.
Not all are convinced the move will substantially lower gas prices. E15 isn’t available in all states and some places don’t have the necessary infrastructure or enough of a supply of ethanol to ramp up use, said Kenneth Gillingham, a professor at the Yale School of the Environment who studies the impacts of transportation regulations on prices, emissions and consumer welfare.
I’m not sure where you live but around here middle class income is enough to buy most used cars except luxury, and if you make concessions in other areas of life a new car is entirely within someone’s means. Not mine, but if my situation was slightly different and I didn’t have certain financial responsibilities I might be able to afford one. And I make just about the median income around here. I live in a relatively poor neighborhood.
New cars aren’t that out of reach with loans for a large portion of people in first world countries. I’m not saying it’s a GOOD financial decision, quite the opposite. But it’s possible to do.