Gas Prices Will Fall & Innovation Will Prevail
The rising cost of fuel is causing major economic concern for people around the globe.
A gallon of gasoline has reached all-time highs at our local gas station, rising yesterday to a record $3.73 per gallon. In other areas of the U.S., prices have reached upwards of $4.39.
Add this to the falling real estate market, the rise in inflation, and a rise in unemployment, and it’s no wonder people are beginning to reach ‘panic mode’.
However, I would like to shed a glimmer of hope on the situation.
In the 1970’s, Arab oil producers rose prices and cut off deliveries to the West. This oil embargo didn’t last very long, but the price hikes remained – and, in the process, the Organization of Petroleum Exporting Countries (OPEC) was established as a force to be reckoned with.
This was a time when prosperity and growth was replaced with doom and gloom.
Between 1973 and 1981, soaring energy prices threw the U.S. into its worst recession since the Great Depression. Unemployment skyrocketed, inflation soared, and people got into fistfights waiting in line to buy gasoline.
The world of growth and prosperity was coming to an end. The future looked grim.
But then, something strange happened.
The world didn’t end.
The world’s energy reserves actually rose by over 50 percent during the next 20 years due to better recovery methods.
Technological discoveries like electronic fuel injection replaced carburetor’s, virtually doubling fuel efficiency overnight.
The “experts” who once predicted the supply of oil to last only 20 years, predict our current supplies should last 100 years or more.
And I believe a new technological discovery will be coming soon.
What could this be?
I don’t know… but I believe in the human spirit of innovation. I believe that, within 10 years, the average fuel economy for a family sedan will be 100 miles per gallon. Maybe more.
Wouldn’t that be great?
Even if a gallon of gasoline rose to $10.00 at the pump, it would only take 4 gallons to “filler up” and provide 400 miles worth of travel potential at 100mpg.
We will overcome this “energy crisis” soon – rest assured. And it probably won’t take anywhere near 10 years.
In the meantime, there’s a cool website at Mapquest I just discovered that shows you local gas prices, and highlights the lowest-cost options in your own hometown. Here’s the link:
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~ Joe Barton is the founder of Barton Publishing, and publishes natural health remedy reports online – helping people discover natural ways to overcome health problems like acid reflux, hypertension, arthritis, and more. www.BartonPublishing.com
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