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'netWORTH: Figuring out High Gas Prices

POSTED: 3:00 pm EDT May 29, 2008
UPDATED: 4:29 pm EDT June 2, 2008

I had a very interesting conversation about the impact of gas prices with a nationally-known expert. Craig Columbus is President and Chief Market Strategist for Advanced Equities Asset Management.

To watch my interview click on the video to the right of this story.

Columbus gives his opinion on what consumers can expect at the pump, what Congress can do to make things better, and when we'll see some relief. You may recognize him since he was a regular on CNBC's Power Lunch.

He explains why we're paying so much for gas by talking about supply and demand economics and also how the weaker U.S. dollar impacts how much we're shelling out for gas.

Columbus looks at the speculation on Wall Street in terms of the market wanting to know how high gas prices will affect the bottom lines of companies and individuals. He did note that we are driving four percent fewer miles than at this time last year. And Columbus said gas prices are proving the impact people around the globe are having on each other.

There are things he says Congress can do to help the situation. He looks to strengthening the dollar, incentives for alternative energy, and more exploration.

Thanks for joining us for this edition of 'netWORTH.

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