It's hitting everyone's pockets hard. Rising gas prices continue to climb. For anyone who has visited a gas pump recently, it's really no surprise. Gas prices across the country often top $4 per gallon for regular unleaded. And in some markets, $5 per gallon is the new "norm".
But the pain doesn't just stop at the local Shell, Mobil or Texaco station.
Higher gas prices, brought on by higher world oil prices, means these higher costs will be passed along to consumers in higher costs for everyday items like food and merchandise.
And just very conveniently, Big Oil will show record profits.
We're addicted to oil. Foreign oil. Foreign oil that fuels the economies of countries and dictators more than happy to see the fall of American prestige and economic and military might.
The death of Osama bin Laden, among other factors, fuels the fears that access to foreign oil will be stopped or curtailed.
But it doesn't have to be that way. America needs to continue to move to alternative fuels. And ethanol is already playing its part for a renewable future for America.
But more ethanol pumps are needed. And more vehicles capable of using higher blends of ethanol (for example, up to 85% ethanol).
In conjunction with other energy strategies, America can reduce its dependence upon hostile countries.
But not if Big Oil has its way.
Source: US Department of Energy
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