The USA consumes 400 million
gallons of gasoline every day. This with the burgeoning demand from developing
nations such as China for gas, has pushed gas prices to record highs, and
having an all-pervasive and on-balance a damaging effect on the US economy.
Gas prices in the USA/Canada
often vary significantly between gas stations and supermarket gas pumps. In
many areas, gas prices can vary by 20-30 cents per gallon or maybe at times
even more within a small area. This makes that most motorists in the USA/Canada
are shopping around to find the best deals on gas, but are still paying a lot
more for it.This will affect the US economy by reducing value of properties in
outer commuting zones around the cities, and depress rural property values.
Analysts were predicting a
gallon of regular to climb as high as $4.50 a gallon in California by Easter
2011. But these same analysts are saying that if you think gasoline is
expensive now, just wait until next year! The effects of such big cost hikes
will reduce available spending money for all those on average wages and below
who need to travel significant distances in their cars, and this will further
depress the US economy when this cash gets diverted away from a myriad of local
spending decisions affecting local businesses from restaurants to children’s
shoe shops.
Cars now are more
fuel-efficient than they were in the 90s, so car owners can reduce your
spending on gas by choosing fuel efficient vehicles. This is making US car
manufacturers and car importers develop and extend their low fuel vehicle
ranges
It is not all bad news though.
Companies that own oilfield reserves will be seeing the value of their
resources growing, and businesses that are connected with the renewable energy
market are growing rapidly right across the range of renewable energy sources
from wind, to thermal energy, and of course that most popular of renewable
sources which is solar. Renewable energy companies are growing fast and
employing increased numbers of staff.
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