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Fuel prices may make decisions for us

Posted by Davbmn on 04/13/06 at 10:05 PM

Fuel PricesWhat are the dominoes ready to fall in the wake of rising fuel prices

Will the cost of gasoline change your decisions in certain areas?  Time will tell, however here is some food for thought.

Will you be more likely now than say 3 years ago to live in an urban area closer to school or work rather than a suburban area?  When buying a house are you looking at such things as insulation and brick as opposed to appearance and space?  These questions are most assuredly higher on the list of home buyers than they were 3 years ago.

Also rising on the list of decisions is all electric appliances vs. gas furnaces and water heaters. Yes, these decisions are becoming more of a priority than they used to be.  The unintended consequence of this will be more urban dwellers with high efficiency homes and appliances driving smaller for fuel efficient vehicles, or taking mass transit exclusively.

In the long run these things will work themselves out.  We will see more investment in alternative energy sources because the price of fuel will make it feasible for investors to do so.  We are already seeing oil companies put money into upgrading their refining capacity and producing hydrogen and other fuels like ethanol.

These companies have to interest in pricing themselves out of business.  Lawmakers are worried that oil companies are making too much money, but this is the only way we’re ever going to see a shift in alternative fuels or lower gas prices.  The oil companies will do what the market dictates because it’s their guarantee that they will continue to stay in business for decades to come.

In the meantime, you can try saving yourself some money at the pumps by following these tips.

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