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Rising Gas Prices: To Drill Or Not To Drill For Oil

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If you’ve been to the pump lately, you’ve already noticed gas prices are on the rise again, and according to some reports, will continue to do so rising gas pricesperhaps topping off at as much as $5. 

An increasing rise in gas prices is nothing new around this time of year as summer travelers prepare for their family vacations to the beach and the like.  However, as Americans prepare for their summer travels there is reason to worry in the numbers.

For example, last year when there was a similar rise, motorists dropped $4,000 at the pump which equates to 8% of household incomes.  In 2002, the number was half of that at 4% -- and the number continues to rise. In an economy desperately in need of significant, tangible recovery, this rise in cost will only hinder economic recovery.

Among the many costs American families have to incur, gas used to be just a small part of what many would have to consider, but with the increase in prices, this will have to be given more consideration now. That is, as Americans spend more on gas, they will have to cut back elsewhere.

While the summer is usually one of the biggest travel seasons, if not the biggest travel season of the year, some may decide to stay home and get a pool membership instead of taking those trips to the shore.

That being said, this will also impact small businesses that depend on traveling by vehicle to operate their businesses.  For example, construction is an industry currently struggling in this economy that will suffer considerably from this increase.  Not to mention the many businesses in local tourist destinations that depend on the seasonal traffic.

When it comes to the price of gas, the issue of domestic production versus offshore production always presents itself.  Should we be drilling in ANWR? And, given this recent increase and anxiety created by the rising gas prices - why didn’t President Obama approve the Keystone XL project?  A project that would have both created jobs, and decreased our dependency on foreign oil.  The geopolitics surrounding foreign oil, is anyway, the reason gas prices rise as they do here at home.

In a recent interview between ABC’s Jake Tapper and the White House’s Jay Carney, Carney proclaimed that domestic production is the highest it’s been in 8 years. But what Carney failed to mention is that because of a lack of the necessary infrastructure refineries across the country are closing because it’s easier to import oil from abroad.

If the Administration is serious about finding a solution to American families’ costs, and turning around the economy, it needs to approve legislation to make it easier for oil refineries to operate here at home.

Legislation such as the one for the Keystone Pipeline would go a long ways to help ease the situation. The payoff will be more jobs for Americans and therefore a more prosperous American economy.

Contact Alyssa Bonk at abonk08@gmail.com

Find Alyssa on Google Plus here

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Check out more of Alyssa's work at Luckandhustle.blogspot.com and Smart Girl Politics

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