NYC taxis seek ways to offset oil prices
New York City cabbies want to tack a dollar onto every fare to offset oil prices. But Mayor Michael Bloomberg and the city's Taxi and Limousine Commission say the answer lies elsewhere. Jessica Lussenhop reports.
New York City taxis (Getty Images)
More on Oil
TEXT OF STORY
Stacey Vanek-Smith: Oil is back up bit today, but it's still about 15 percent less than it was earlier this month. Gas prices are down a bit too, but I still wouldn't call $4 a gallon cheap. Neither do New York taxi drivers.
Cabbies want to tack a dollar onto every fare to offset those prices. Evidently the 60 bucks it costs to get to the big apple from the airport isn't cutting it. But Mayor Michael Bloomberg and the city's Taxi and Limousine Commission says the answer lies elsewhere. Jessica Lussenhop reports.
Jessica Lussenhop: Taxi and Limousine Commission chairman Matthew Daus says a surcharge is no solution:
Matthew Daus: We think it's bad policy. Especially with the hybrids coming on to the road. We want the drivers and owners to buy the hybrids. They do that instantaneously, the gas issue goes away.
About 10 percent of New York's more than 13,000 taxis are now fuel efficient. Mayor Bloomberg hopes that the entire fleet will convert by 2012.
Frank Felder is Director of the Center for Energy, Economic and Environmental Policy at Rutgers University. He says cab drivers who switch to hybrids will save money in the long run.
Frank Felder: It is upfront an out-of-pocket expense of an additional $5,000, $6,000, but you're saving about that much per year.
Cab drivers say they need a surcharge now to survive. They may find themselves swapping for a hybrid anyway. Taxicabs are replaced every three to five years, and new cabs must get at least 25 miles per gallon.
In New York, I'm Jessica Lussenhop for Marketplace.
Comments
Comment | Refresh
From Miami, FL, 07/25/2008
New York Mayor Bloomberg's companies allowed numerous tax warrants, tax liens, Department of Labor judgments to occur that are scattered across the country from California to New York
Here are just several
http://webofdeception.com/#bloomberg
Post a Comment: Please be civil, brief and relevant.
Email addresses are never displayed, but they are required to confirm your comments. All comments are moderated. Marketplace reserves the right to edit any comments on this site and to read them on the air if they are extra-interesting. Please read the Comment Guidelines before posting.
You must be 13 or over to submit information to American Public Media. The information entered into this form will not be used to send unsolicited email and will not be sold to a third party. For more information see Terms and Conditions and Privacy Policy.