In 1998, the cost of a barrel of Oil was $10.00. The average price of gasoline was $1.09 per gallon in the U.S.
Today, oil is fluctuating between $90 and $98 dollars per gallon. Yet, we have only seen the average gasoline price increase 3 fold since 1998. If gasoline prices kept inline then it would be $10.00 a gallon today. This is without environment affecting supply such as hurricanes, wildfires, terrorism and more.
Unfortunately, gasoline is going to simply get more expensive. It is doubtful that the world will be able to keep up with the rising demand especially in countries like India and China vowing to create a car for each family. Hybrids, PHEV, and Hydrogen may be the future. Ethanol is a wild goose chase though. To have enough ethanol to power the cars in the United States every square inch of the contiguous 48-states needs to be planted with corn.
Personally, I rarely drive anymore. If I can't walk to a store and purchase something, I simply don't purchase it.
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11-07-2007, 03:31 PM
Hybrid Mode
