Dear Mr. President
In our November/December issue of Traveler, contributing editor Christopher Elliott opens our Smart Traveler section with an essay outlining some travel-related considerations our next president should keep in mind once he enters the Oval Office. In the piece, we encouraged our readers to share their responses with us online, so now we're divvying up his major points, and posing the questions to you directly. How do you define the issues of the day and how would you address them? Check back for more excerpts from the essay.
GAS PRICES
A gallon of regular unleaded fuel averaged about $4 last summer, about $1 more than a year ago. Airline fuel prices have similarly skyrocketed. And while energy prices eased by autumn, it wasn't enough to stop a lot of vacations from turning into staycations. Clearly there is a need for a comprehensive energy policy that lessens the country's dependence on fossil fuels, but what does that mean? Offshore drilling? Tax incentives for companies investing in wind power and nuclear energy? What do you think?
A WEAK DOLLAR
The greenback has lost strength against currencies used in popular vacation destinations, such as Europe. And while the dollar has rebounded somewhat, its diminished value still makes overseas travel prohibitively pricey for many. The weak dollar is likely to be on the new President's agenda for reasons that have little to do with travel, but it's obvious that a stronger economy, or even the prospect of one, would boost the dollar. How best to accomplish that? Should the U.S. withdraw from the expensive war in Iraq? Is there another way to reduce both the budget and the trade deficit?
How would you address the concerns of travelers? Email us or share your opinions in comments below.
Photo: By Traveler assistant photo editor Krista Rossow
First, a strong dollar fixes a good bit of the oil price issue. Oil, the world over, is dollar denominated, so a strong dollar buys more foreign currency, and lowers prices. And, as we've seen, gas prices and oil prices have dropped since the wall street bailout. And, if you track exchange rates, the Dollar is back on top of the Can Dollar, and the Euro is back to 2004 levels, while the GB Pound is back to 2003 pricing. Since England is priced for a $1.90 pound, it's like the whole country is having a 15% off sale.
Doing more strong monetary policy will go a long way to drop oil prices and fix the dollar at maybe $1.20 to the Euro and maybe $1.45 to the GBP and $.70 to the Canned Dollar. Something to increase government revenue without increasing spending would be worthwhile, as it would allow the US to retire debt and regain control over the money supply. And really, the supply is the key thing here.
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