Are We Paying Too Much For Gas? [Infographic]By: Shawn Hess - April 12, 2012
If the ever increasing cost of fuel at the pumps isn’t enough to conjure up images of Mel Gibson’s Road Warrior (images featured above and below), I will do my best to convince you that rising gas prices do lead to crime. About six years ago when I lived in New York, gas prices jumped from about $2.50 per gallon to over $4.25 in just one week. Guess what happened?
People stopped driving their big SUV’s and pickups they paid $450 a month to own. They drove the little 10 year-old Honda’s they purchased for their teenagers. The gas stations stopped any gas pumping before you pre-paid. They used to trust consumers, but people started driving off without paying. I had to buy a locking gas cap because some individuals in our community were going around siphoning gas out of people’s cars.
The value of big SUV’s and pickup trucks fell to nothing, most car dealerships wouldn’t even except them as trades and were selling new and used models at ridiculous discounts. The resale value of old junk economy cars shot through the roof. It was ridiculous!
Here we are again approaching the same milestone: $4 per gallon! What’s worse is that industry experts expect prices to reach $5 per gallon by mid summer. What can we expect besides spending an unacceptable percentage of our budget on transportation? I’m not sure, but judging from past experience, I would say the government should focus on subsidizing gas prices rather than bailing-out failing organizations that continue to exploit their clientele and position of power in society.
Regardless of my opinion, some things have changed since the last price jump. First of all, they introduced new legislation to increase the fuel economy of cars. Manufacturers have introduced a larger selection of fuel efficient vehicles. And most importantly, they have incrementally increased the price of gas instead of handing us the shortest straw at the last minute. Is it any more acceptable? Hell no!
If you build an entire society based on personable transportation and commuting to work, how can you justify not taking immediate action to combat this most apparent economic crisis. Our elected officials continue to repair a sinking ship with balls of Play-Do.
This next infographic from OnlineBachalorDegreeProgams.Com illustrates the extreme economic impact of rising gas prices as well as the growing profits at the oil company’s who refine and distribute the resource. If it doesn’t convince you of a need for action, I don’t know what will.
This is a great graphic that deserves our attention. Study it and think about your household budget. If you still think it isn’t a pressing American issue, ask your parents for a raise in your allowance. Enjoy: