Rex Chen

For the past two years, crude oil in U.S. has seen a steady rising price going from $50 a barrel to the $100+ a barrel in the current situation. And certainly, people are paying attention to the rising gas prices at the pump and having second thoughts in trying out alternative public transport, which is unpopular in places such as California. The issue of rising oil prices isn’t that it is at an “all-time high” as the figure below indicates that per inflation adjusted, we’ve seen comparable gas prices now and the days back in the early 1980′s.

What is more concerning, as some experts predict and that I agree with, is as follows. The issue is that oil is a depleting natural resource and more than 30+ countries have already peaked their oil production. At the same time, the rising growth in China and India, whether industrial, technological, or other sectors, will necessitate the demand for oil with more industrial developments. Their demand will be in more dire need in the future.

Furthermore, driving a hybrid vehicle in past time has been a self ful-filling feeling to be more “green,” but now the concern is that it is not only environmentally friendly but may make more economic sense. Gone are the days for large SUVs and heavy vehicles, especially in a place like U.S. where the majority of behind the seat drivers are solo. Recent trends have seen the rise in a number of new compact vehicles out in the market, including the European Smart Car, and small vehicles from Tata and General Motors.