So much of the nation is so dependent on gas that there’s certainly been a collective sigh of relief over the past few weeks as the price at the pump has slowly started slipping. The last I read, the national average price for a gallon of gas was around $3.80. Less than a dozen states had prices hovering at more than $4 a gallon.
A year ago, those figures would’ve seemed astronomical, but today, we’re hopeful that this is a sign of good things. Reports are that worldwide demand for petroleum products is finally slowing down so, as you learned in economics class, it’s a lesson in supply and demand. Finally, in this case, the consumers are benefiting.
Of course, although this is good news, it’s just relative. Today’s gas prices are still more than $1 higher than they were this time last year. But take it for what it’s worth. At best, a sign of a slowly recovering economy. If not that extreme, at least it’s the sign that people have learned to conserve energy. They’re carpooling and telecommuting and driving more fuel-efficient cars so in the end because the demand’s not as high, the price is not as high.
All signs point to prices to keep slowly dropping, at least for the time being. I don’t think we’ll ever get back down to the gas prices we had enjoyed and expected for so long, but there’s no way we’re going to become accustomed to these ridiculous costs.
Let’s hope at least one little part of the economy is starting to recover.
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9 Comments
So much missed opportunity. Why did we as a nation avoid these issues?
If the USA would of addressed the issue(s) and stop the balking on political ends, it would have been resolved years ago. When is true ledership in practice and defined?
if only there's an unlimited energy source . . .
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Why USA...dont stop buying OIL...somewhere else.....Think about it!!
Now, the Republican party, choose as Vice-president..to the Alaska's Mayor???
Who is playing with WHO??
This smell LIKE....BUSH...to me....fraude.....gready......sorry but is time to think hard before VOTE.
or whomever this concerns.
Hi my name's Tyrone Daniels, I'm a Southern African in need of your opinion.
Please be mindfull... I'm not attacking your country & it's policies, I'm simply sharing my opinion.
Foreign sentiment towards the US of A concerning Nature Conservation, global warming etc, are largely negative. You're well known for driving big petrol guzzlers, gigantic aircraft carriers etc.
Your economy is one of the biggest on earth with hugh industrial implications & your government
has neglected to commit to the Kyoto Protocol.
Be that as it may, the present day financial crises has once again created an oppertunity for you to seize the day. If America takes advantage of this she will kill many birds with one stone.
I'm referring to the price of oil, demand versus supply, the improvement of your economy and it's negative overseas sentiments.
Since before the credit crunch, G Motors and it's other American rivals were seriously losing business.
Foreign manufacturers with smaller, more fuel efficient vehicles were having them for breakfast.
Mr Trump himself acknowledged that if there's less demand for oil, the price will drop.
So why is this plan of action not being implemented?
Yes, vehicle sales have fallen worldwide, people are cash-strapped... but as long as we're not extinct, human beings will always have a need for transport, the more efficient they are, the better.
Think about it... America is so vast, if a hugh majority of it's citizens use vehicles that's more fuel efficient, even with China & India's expected growth... it will make a hugh dent in the cartel's asking price.
General Motors & ilk, by producing these vehicles, will experience a rebirth which inturn will stimulate the economy, making the bankers, shareholders & investors very happy indeed.
Their message of faith for an improved economy will snowball, and hopefully lift sentiment the world over, not to mention the benifits to the environment.
I'm a die-hard capitalist yet, I believe in the merits of the infamous golden goose fable.
In order to reap the benifits of the golden eggs, you need to look after the goose that lays them.
There's a saying, money follows success.
I really believe that if thes sinking corporations rethink their strategy for the benifit of all,
the sun will again rise for them.
Regards
T. Daniels