Oil Prices Down, but Will They Stay That Way?
Oil has taken a big turn around, but lets not celebrate yet. The price of oil has come down a whopping $10.00 a barrel over the past 10 days, $6.00 on Tuesday July 8th.
But as I have said before, this is due in large to profit taking on the markets. Also, there is a supply raw crude. The problem is the cost of processing it. Is this a trend. Probably not. The best we can hope for is for it to slip back a bit more before till is is low enough for the traders to buy again and then hope it does not raise as high as it was before it goes back down again. And don’t expect the price at the pump to go down either. The gas they are selling now was produced from the higher costing oil, at least that is the story.
We have the power to make sure we are not held ransom by the oil companies or oil producing nations in the future. We have started to pay attention to alternate sources of fuel and power. We cannot let up on that effort like we have in the past. We have a choice now in the type of vehicles we buy. There are cars and trucks that run on hydrogen fuels, where the only exhaust is water vapor or run on biofules – these can also run on regular gas or a combination of regular and bio – and hybrid cars that run on a combination of gas and electric. And they can cost about the same as they would running on only gas, depending on the manufacturer.
Just look at what we have done during this crisis. The figures show that we are driving fewer miles each month. We are using eco friendly products more and more. This whole gas mess has been a wake up call to take control of our environment and it gives us a bargaining edge. If we continue to pursue alternatives to oil and gas, continue to cut back on driving, use energy efficient light bulbs etc. we can send a message that we are not going to take it any more.
We are going to keep an eye on what our government officials are doing to save energy and you will have the opportunity to give them a thumbs up or a thumbs down. Wouldn’t it be great to see the number of hydro fuel and bio fuel stations multiply faster than they are. And to have a real energy choice way into the future.
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