Oil hits a new high http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article2666689.ece Will you cut back any expenses? What does it mean to you?
How could you abuse it? By making life uncomfortable and overheating your apartment? I also pay a fixed amount for water.
Oil hit an all-time high in the early 70s, but life just kept going on ....and people bitched and moaned, but little changed. Oil has hit "all-time high cost" many times in the past, Sam, and very little changed, and life just kept going on and on and on and on and.... Baron Max
The price of pump gas has little effect on me personally, as I am a very low-milage driver. A tank of gasoline usually lasts me from one to two months. It is not so much the milage one's vehicle gets, but how many miles per month the vehicle is driven. Many people with those "Trucks & SUV's" burn much less gas per month than those with econo-boxes driving long distances to work and back every day. The biggest effect of high fuel prices on me is the costs of necessities such as food. The farmer has to pay more for his fertilizer and equipment fuel in raising his crops. The transportation cost of his crops to processing plants, then to my local supermarket increases. So food prices and other necessities that have to be transported to my local stores will rise. That still has little effect on me as I am single and food is a minor expense, but it can have substantial effects on low income families with many mouths to feed. In the USA, higher fuel prices will have an impact on those low income families that do not even own a car.
UNless gas hits something like $4 a gallon, I really don't care what the price is. I have enough money saved to make up the difference for a few years. (I don't live paycheck to paycheck like so many people). Also, I drive a truck that gets 18 MPG average. I could get a Honda for 30 MPG, but I want a truck.
I don't use oil. Never did and probably never will. Well yeah I use buses...but I get my bus travel free...courtesy of university. As for my travel guide, I use bike, when it rains or snows...I use it. Of course I gotta change tires during winter every week or so, but I really could care less.
I don't have a car, but I have noticed the increase in price for public transport. I don't think I'll cut on it, because where I can I walk, but where I can't walk, but must go, I use public transport. So no, only my expenditures will increase.
