Don't be angry if gasoline hits $4 per gallon -- high prices at the pump might be just what America needs, say two "Morning Call" guests. The question, though, is what the short-term impact will be to the U.S. economy. Chris Varvares, president of Macroeconomic Advisers, and David Lazarus, business columnist at the San Francisco Chronicle, joined CNBC's Michelle Caruso-Cabrera to share their insights.
Lazarus said higher prices must be taken in the "context" of "supply and demand." He noted that the U.S. imports over 60% of its oil, with the majority of it going to make gasoline.