Economic Impact of High Gas Prices

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…Al Gore negotiated a global warming treaty in Kyoto, Japan that would require the U.S. to cut its greenhouse emission to 7 percent below 1990 levels by 2012. Since emissions are about 10 percent higher than they were in 1990, compliance with the Kyoto agreement would require massive reductions in fuel usage. If this becomes law the result would be astronomical gas prices (Sanders). These high prices can lead to inflation and inflation results in slow economic growth (Price).