Gas prices recently hit a national average of over 3$ a gallon in the US, which has had its ripple effect on the economy. Rising energy prices have forced the Feds to raise interest rates, commodity prices have shot up and ultimately people are frustrated filling up their gas guzzling SUVs and trucks. If it costed 20$ a couple of years back to fill a tank, it is costing 50$ today. Time magazine has an interesting article on who loses who gains because of soaring gas prices. Exxon Mobil reported a record 10 billion$ profit, yes PROFIT for the first quarter.
As they say, theres a limit to soaring gas prices too. Inspite of environmentalists fighting to save this planet from the enormous CO2 emmissions mainly from coal plants and automobiles, Bush administration and the black gold monarchs have been celebrating and sipping cocktails over their fortunes, showing the least concern for what they should be protecting first. Detroit is hurt, SUV and pickup truck sales have hit the lowest levels. Airlines are hurt, each dollar increase in fuel prices costs the airlines a whooping 365 million $ annually. The damage is just spreading everywhere and most importantly , the average middle class have been hit the most.
This has led people to cut back on their dependence on gas. A lot of people are now using or thinking of using alternative modes of transport to commute to work. Bikes have become the most popular followed by public transit.Until now it was just a few environmentalists and a small percentage of the population that were 'environmentally aware', now that percentage is slowly growing. Biking and walking are such good excercises, this week is bieng advertised as 'bike to commute' week in several cities. orgainzations are asking people to commute to work atleast one day to get started. So far the results have been good. people are publishing how their biking experiences have led them to shed weight, become more active and be more productive at work.
As people start to use less gas and the demand starts to decrease, the gas prices will begin to drop and people might get back to their old habits, may not be in the immediate future. In my experience, once you get used to the routine of biking or using mass transit its difficult to get back to your truck/car to commute. I walk to work since I live closeby. Its easier for me to take my car definitely but walking is more fun. Biking is a lot more fun.
These alternative means of commuting to work should help reduce pollution and even the profits of oil companies. Mother earth might finally have a reason to smile.
