Gasoline prices have been steadily rising for months and in spite of the recent slight downturn in the numbers, it does seem like they’re poised to continue going up for the foreseeable future. In fact, most Americans say that they believe that prices will continue to rise and many say that the cost of gasoline is actually the number one concern for the American economy.
Warning: The following illustration is quite sobering when we actually put it in perspective...(Click To Expand)
Gas prices fell slightly after the death of Bin Laden but then jumped the next day;
According to one economist, 410,000 jobs are lost with every 41 cent increase in the price of gas;
11% of all paychecks go to pay for gasoline;
The United States uses around nine million barrels of oil each and every day;
Prices of commodities, such as wheat, corn and soybeans have skyrocketed recently.
More People Looking for Alternatives
All these problems of high gasoline prices have meant that more people than ever are scrambling to find alternatives to gas guzzling combustion automobiles. Some have turned to hybrids; others have turned to all electric cars. In all cases, however, sales of small cars are going up on a regular basis.
The Market for Alternative Cars
The following numbers really do tell the story of what’s been going on with the car market the past few years:
Hyundai Sonata and Elantra sales are up 55%;
Chevy Suburban SUV sales are down 24%;
78% of Americans are willing to consider an electric car if gas goes over $5 per gallon;
Hybrids save as much as $5,500 per year for their owners and reduce greenhouse gas emissions by as much as 30-50%;
As of 2009, E85 car sales have gone up to over 8 million units sold;
Google has invested $20 million in Transphorm, a company which makes electric cars more efficient.
The bottom line is that Americans are opting in increasing numbers for other options, ones which will allow them to save money and avoid the extreme costs of high gas prices.
What You Can Do
So what can you do about high oil prices if you don’t want to buy yourself a new car? There are a number of other options that you can try which can help you to save money:
Switch to alternative ways to heat your home – for example, you could use natural gas instead of oil;
Grow your own food products;
Learn to can your own food products;
Make less shopping trips and buy food in bulk;
Start using public transportation, your bike, and even your feet to get around. Not only is it healthy, but you’ll also save yourself money on the cost of paying for gasoline.