Oil Prices hit a Record $130 a Barrel
A new record high for the price of oil occurred today. It achieved an all time high of over $130 a barrel!
What this sadly means for all of us is that gas prices will continue to go up, but also everything else will go up in price as well. If transportation costs keep going up, everything will have to go up in price in order to maintain a profit for most businesses. These are issues we should all be really worried about. At what point does the trucking industry and cab industries start to go on strike because of how much money they are losing to the high prices of gasoline and diesel?
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U.S. crude hit a peak of $130.47 before easing to $129.71, up 73 cents. Billionaire T. Boone Pickens, that I've mentioned in a previous post said on Tuesday he expected oil to hit $150 a barrel this year. Some of the reasons the price of oil is so high is due to a weak U.S. dollar and due to long-term production worries and a near-term focus on tight fuel stocks.
I have resorted to drastic measures including refusing to drive my car on my days off from work even though I own a hybrid. I am voluntarily boycotting gas on my days off. I am walking, biking, and riding my electric scooter around town a lot more. In fact, I feel liberated and free from the hassles of driving. I think other people would feel the same if they just tried it. I refuse to buy gas for leisure if the prices of gas are going to remain this high. So far studies have suggested that Americans have not changed their driving habits even though prices have gone up. But studies have shown an increased demand for hybrids once again.
If you have changed your driving habits, I would love to hear about it. What are you doing about these insane gas prices?
Thoughts, Comments, Questions...
6 COMMENTS, ADD YOURS HERE:
I'm actually glad prices are where they are. It's about time the monetary cost of driving reflects the tru costs. My latest enviro-crusade? Green computing. Check out www.shutdownandprotect.com
I agree that the monetary cost of driving should reflect it's true cost, at least in terms of the environment. However, with oil companies posting record profits, I think it is easy to see where that money from higher gas prices is going.
Please Recycle
I think that the oil companies should be forced to invest their record profits to help transition the world into clean and renewable energy.
The real issue is still to me, people not changing their regular habits. It's at the point where a normal person can't really afford to get to work yet i still see Hummers on the road, and Yukon denalis. I think it's to the point where the auto industry needs to have extremely strict standards in regards to fuel economy and maybe even the federal government needs to regulate corporate profits to a minimum. This is not an issue that the free market philosophy will resolve but if enough americans simply refuse to go to work, as in a national walk out...letting our government know that we want more choices and we want them now and we want big oil to make less profit or the economy stops here. Tighten down the barn doors kids it's coming!!!
I agree with one of the previous commenter - hopefully the high price of gas will finally get all of us to take more drastic actions. I like your of idea of not driving on your off days.
Hey I agree man, not driving on your days off from work forces you to get things done on your way to and from work. It saves you gas and sends a powerful statement to the oil industry, now if only everyone started this..
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