Ordinary Americans Bring Down the Price of Gas
Conservation Wins the Day
According to the American Petroleum Institute, www.api.org, U.S. oil demand was at its lowest point in five years. This, coupled with increased refinery capacity has brought down the price of gasoline at the pump from its historic highs of over $4/gal. We are currently importing significantly fewer products (i.e. gasoline, kerosene, etc.) and our imports of crude have fallen slightly. It is apparent form these facts that conservation has the quickest effect on the prices we pay for energy, and it has the added benefit of reducing emissions of greenhouse gasses at the same time.
Our congressional representatives need to be prodded to make conservation even more widespread with tax incentives on purchases of fuel efficient vehicles, promoting the use of bicycles, incentives to auto manufactures to produce more efficient cars, trucks etc., subsidizing research and development into alternative energy sources. So let's get out there and "conserve baby, conserve."
Published by Wayne Howard
Grew up in various places: Mississippi, Nevada, Japan, Guam. Attended college in MS, graduate school in MS and TX and worked in a variety of industries including Oil & Gas, Mineral & wood fiber products, an... View profile
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- Petroleum demand is at a five-year low.
- Imports of petroleum products significantly reduced.
2 Comments
Post a CommentYour article makes much sense. I'd say also that some of it has to do with things stabilizing on the world market. Much of the spike in prices was caused by a sudden demand for the stuff from the emerging economies of India and China. When the supply finally caught up to the demand, the price dropped a little. Look at the pump prices now. Almost half of what they were just a few short weeks ago (let's hope they stay that way!)
Haven't you thought of the decline in American manufacturing, outsourcing and economic uncertainty as a most likely cause for the slight reduction in US oil demand?