Thursday, March 13, 2008

Gas... It's no gas!

A more frank version of the title could be: "Gas: it sucks!" or "Gas: Boooo!" Regardless of which you prefer, you get my drift. The stuff is expensive and as we get closer and closer to summer, it's going to be even more costly. put out an article about how much gas costs in certain cities, back in December of '07. Back then, they were making a point to mention how expensive gas was at an average of $2.90 a gallon. How funny is that? Gas now is about $0.50 more in KC, I can't imagine what it is on the East coast.

An interesting thing is that as expensive as gasoline is these days, it still hasn't eclipsed it's former peak of 1981-1982. Back then, during the energy crisis, gasoline was averaged out at $3.405 a gallon (national average). So, we're currently sittting at 18 cents below that, yet rapidly approaching the 1982 mark. (According to Yahoo.Biz)

Yet, according to some, the rising costs of fuel aren't all that bad thanks to newer technologies and effiiciencies.
Some interesting quotes from today's Yahoo.Biz post:

"In 1980, the average American had to work 105 minutes to buy enough gas to drive the average car 100 miles, according to Beth Ann Bovino, a senior economist at Standard and Poor's. Now, the average American needs to work only 53 minutes, thanks to better fuel efficiency and higher wages."

"For each penny increase in the cost of gas, U.S. consumers pay an extra billion dollars a year, said Dean Baker, assistant director at the Center for Economic and Policy Research. So to go to $3.22 a gallon from $1.74 a gallon in March 2004 is costing an extra $148 billion dollars this year alone."

"For those hoping things will get better, there may be a while to wait. EIA predicts gas prices will remain above $2.70 a gallon until at least 2010."

More reasons to ride your scooter more, eh? For more on this, check out the Yahoo.Biz post.

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