Phew! Gas was $4.19/gallon this morning. Price of crude oil has doubled from $65 a barrel last summer to $135 per barrel this summer. Only if this wasn't bad enough; the cost of a barrel of gas is expected to skyrocket to $200 sometime by the end of this year. US is still one of the cheaper places (after Russia, UAE & Venezuela) to buy gas as compared to European countries & Asian moguls like Japan. Gas has crossed $10/gallon in Europe already. Petrol is still cheaper in India as compared to the rest of the world; about Rs 57 per litre because of the Government subsidies. These are simple statistics presented by Economic journals all over the world.
What do these numbers mean for the common man though? To me it means that it’s high time we start car-pooling & buy cars with high MPG. Using public transportation can help in a big way. I am sure Governments globally will think about improving public transportations in cities where it was not so developed in the past. I have developed a simple practice for myself; I club my errands around the same area & avoid frequent unnecessary trips to the mall. This situation more than anything has made me realize that gas is a perishable asset that controls global economy to a massive level. Looks like future has some shock in store for us, but we should be prepared for anything to everything. Just because some of us may be above median income level doesn’t mean we can waste gasoline as per our wish! It is our civic responsibility to use fuel efficiently. Conservation should be the mantra of the day, what say?
1 comment:
agreed - also it less fuel consumption means it is good for our earth too...
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