In May 2008, Goldman Sachs analyst Arjun Murti projected that oil would climb from its then record cost of $129.60/barrel to $200/barrel. The New York Times had Murti predicting that American drivers would soon be facing $6 per gallon gasoline.
Governments the world over are doing their best to stave off budget shortfalls, and India has taken to upping the cost of fuel to cover its overhead. Turns out the common man isn't much for those kinds of shenanigans. According to the BBC News, after fuel prices shot skyward, opposition to the ruling party initiated a strike that stuttered normal life in the country for a few days. Schools closed down, businesses shuttered their doors and transportation ground to a near halt with some flights an
We all love to see high fuel prices, right? Well, some of us might, but the majority of us would rather not pay through the roof for a gallon of gas. There's definitely a consensus that high gas prices are good for the environment in many ways, but few of us are willing to foot the bill to help out Mother Nature's cause.
Opening an article with the question, "how much does gas cost?" seems like it requires a fairly straightforward answer. You could hop in your car, drive to the nearest gas station and answer it in no time. Similarly, you could hit up the site GasBuddy and find an answer even quicker. Using either of those methods, you'll come back with an answer somewhere near $2.79 in the U.S. today. Though the answer may seem right, Ezra Klein of the Washington Post argues otherwise.
The Rocky Mountain Institute has created a nifty interactive map that shows you where the U.S. gets its oil from, along with how much - and who - the U.S. pays for its oil. Based on the thickness of the lines, you can see just how much black stuff is coming from where. The map goes as far back as 1973, the year of the first oil crisis, and is accompanied by a graph charting usage and dollars since then. As you'll notice in the pic above, we give a whole lot of money to Saudi Arabia, as well as o
Can you hear that? Those are the war drums, and more and more of them are beating the same tune: bring on the gas tax. An editorial in The Gray Lady is the latest and arguably the weightiest to join the shock troops advocating for higher gas prices. The writer proposes a fluctuating consumption tax that would keep gas at least $4 per gallon in 2008 dollars, while an economist suggests a sliding tax on the price of a barrel of oil to achieve the same effect.
It's the same old story, people say one thing, yet do another. The price of fuel has fallen to the point that it's no longer financially ruinous to fill the tank on a full-size pickup, so looks like truck sales will eclipse cars in December. Despite the public's rhetoric about smaller and more fuel efficient vehicles, the populous has seemingly gone back for another feed at the truck trough. Winter tends to remind people of the things that SUVs and trucks are good for, like plowing and effortles
Oh well. Those Chrysler "Let's Refuel America" gas cards undoubtedly sounded good to car buyers over the summer when gas was well over four bucks and it seemed like there was no limit to how high the price could go. Offered in lieu of rebates, the gas cards essentially locked drivers into the then-cheap pump price of $2.99/gallon. Now, several months (and countless hysterical media reports) later, the economy is in the tank and so, as it happens, is the price of gas. In what feels like a time wa
In India, two-wheeled scooters and motorcycles are a very popular way to get around. Cars are out of the price range for many buyers, and until the Tata Nano comes out, will remain that way. Other factors are putting a crimp on the spending of many Indian households, including a huge inflation increase and the surging price of fuel. All of these things are likely to have a negative impact on the automotive sector. Some, though, believe that the two-wheeled market is set to pick up some of the sl
I fully agree that we need more fuel efficient vehicles. But I also firmly believe that the vast majority of American drivers (and others around the world) will always buy the biggest, most powerful vehicle they think they can afford to operate. When gas was cheap in this country, they bought big SUVs and trucks because they could afford them, even though there were plenty of small, efficient vehicles offered. Sure, some people bought compacts for a variety of reasons but most people went big. W
In the book of Genesis, man was given dominion over all the plants and animals, so we're guessing that dead, liquified ones count, too. Since Rocky Twyman started his Pray At The Pump effort in April, average fuel prices have certainly fallen. Twyman believes that his groups' prayers have effected the change, and that no other factors like shifting consumer behavior, international conflict, or speculators has anything to do with it. Right.
Think of it as the Carsumer Price Index; new car sales are under pressure from other factors besides fuel prices and economic slowdowns, much like the Consumer Price Index strips out the price of fuel and food and then makes a proclamation about the economy. At least that's the theory that Pinny Cohen posits. Who's Pinny Cohen? As far as we know, he's an average joe with an internet rostrum and a budding web entrepreneurship who makes some salient points. He's also an Autoblog reader and he's go
American drivers getting angry when the gas pump automatically shuts off $50-75 into filling their cars might want to stop whining. In Norway, it can cost upwards of $130 to fill the !3.2 gallon tank of a MINI at $9.85/gallon. A new survey indicates that even at above $4/gallon, American prices are still among the cheapest in the world, in large part due to low taxation. Only 19 percent of the pump price of fuel in the US is attributable to taxes. Pretty much the only countries in the world with
Considering all of the press that has been inked (or typed) regarding both John McCain's and Barrack Obama's various plans for the ailing automotive industry in America, you may think that the two hopeful presidential candidates would be in tune with the plight of the average driver who fills his or her tank. Or not. It seems that Republican John McCain is not aware of how much a gallon of gas costs. In fact, he says, "I don't recall, and frankly, I don't see how it matters." We have no intentio