The $54 refill
I just spent $54.25 to fill our Honda Minivan with 17.9 gallons of gas.
I walk to and from work and take the subway almost everywhere else I go in NYC, so I am probably more immune to the price of gas than anyone I know.
But I realize that this spike in oil prices is giving the average family fits.
Longterm, however, I believe this is the best thing that could happen. We need to reduce our reliance on foriegn oil and the mess in the mideast shows exactly why.
Maybe now we'll be able to generate a return on investment on alternate energy businesses.
This post from Freakonomics blog (via Jarvis) explains why the mainstream media's fearmongering over the rise in oil prices is missing the big point.
compare that to a price of 1,30 EUR per liter... and every vacation season the prices go up...
Posted by: Nico Lumma | August 22, 2005 at 04:28 PM
When you say 'Midlle East' you mean Pittsburgh, right?
Posted by: jackson | August 22, 2005 at 05:43 PM
Inducing fear in people is a necessary marketing tool for both politics and journalism.
When people are afraid, they are more malleable.
Groovy!
Posted by: hugh macleod | August 22, 2005 at 10:18 PM
Well, here in India, 18 gallons of gas will cost more than $70, which if you compare by purchasing powere parity is more like $200 for an average Indian. I say, you guys have got it pretty good! :)
Posted by: Gaurav Bhatnagar | August 23, 2005 at 01:23 AM
Yep, where I'm at gas is almost $5.50 per gallon. And, people keep buying it.
It's funny, though; here, they don't seem to complain so loudly about it. Maybe that's because it has been around $5 per gallon for years.
Posted by: Scott | August 23, 2005 at 04:31 AM
Here in Norway the current gas price is NOK 13 per litre. That compares to a gas price of $7.56 per gallon. Your refill of 17.9 gallons of gas will cost approximately $135 at my local gas station.
And the ironic thing is that Norway ranks as the world’s third largest oil exporter and the seventh largest oil producer. What will happen when oil prices reach $100 per barrel?
Posted by: Rasmussen | August 23, 2005 at 05:25 AM
Peak oil production in 4 years. I love my hybrid accord, but I'm switching to Prius soon. Hybrid minivans should be out soon, too.
But we need an Appollo project around energy...http://www.apolloalliance.org/
Posted by: charlie crystle | August 24, 2005 at 10:30 AM
Here in the UK your tank would cost $110 (90p per litre * 3.78litres to US Gallon)
Posted by: geoff | August 24, 2005 at 06:37 PM