$8 a Gallon Gas
Eight dollars. That’s about the average price of a gallon of gas in Europe. More than double our current prices. I’ve heard this before and now it feels pertinent to talk about when comparing to our current situation. But it seems like Europeans, for the most part, are fine with what they pay (unlike most Americans). It doesn’t cost more to produce gas in Europe than in the US. The reason for the markup is a result of government levied taxes, funding various initiatives such as health care and public transportation. Studies show that taxation has been the primary cause for reduced oil consumption. While US consumption has grown about 21% in the last decade, our European counterparts have seen stagnant or reduced consumption.
As much as I don’t like government intervention with certain policies, I feel this is a pressing matter that needs to be addressed. There are two options to choose from: we can either start passing legislation that increases fuel economy or we can increase the taxes that we pay on gas. Either way, some action is needed to curb our growing hunger for oil so we can fund public transportation projects or invest in alternative energies.
Graphical Representation of Worldwide Fuel Economy