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Consumption and Energy

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I read a lot of news and opinion pieces on energy, and recently the wire has been buzzing non-stop about the sudden spike in oil prices. Owning shares of Conoco Phillips for well over a year myself, I believe that oil is going to be an important resource for years to come, and if big oil share prices are any indication, a lot of other investors do, too. However I believe we’re finally starting to see a tipping point.

Previously, when gas went to (gasp!) $3.00 a gallon, a lot of Americans were unhappy. We complained and reluctantly stopped at the gas station, filling up our gas devouring SUVs while wondering who will do something to stop this madness! The world kept on spinning.

Now, the picture is much different. As a nation we’ve taken so much of a beating to our wallet that we have finally been forced into action. Suddenly SUVs can’t be given away, small, more efficient cars like the Smart Car are in focus, and those who were slow to get on the hybrid train (looking at you GM and Ford) are now getting crushed like never before.

Here’s the bottom line. In most cases, you’re going to have to drive your car. It might be feasible for someone like my brother who lives in downtown Philadelphia to get around without a car, but for the rest of us it’s simply not feasible. So what you can to help bring down gas prices until a cost-effective alternative is available? Drive less, get a smaller car, hypermile, whatever it takes. The one sure fire way to lower the price of gas is to lessen it’s demand. We can’t affect the increased consumptions of newly developed countries like India and China, but we can make a difference here.

Alternate income was off the charts yesterday, with an unprecedented $26.06 in earnings!

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