Buying an Electric Car For Your Future

Before that tragic September day in 2001, the American economy was stable and gas prices were around $1.50 per gallon. Even an event like September 11 did not drive up the price of gas after. It changed very little over the next four years, fluctuating up and down by an average of 25 cents. In mid 2005, we saw the national average for a gallon of gas go over the $2 mark. The average price of a barrel of oil then was around $45. Then, 2008 witnessed a shocking increase in the price of gas as it went from an average of $2.75 per gallon in the beginning of 2008 to over $4 per gallon by the summer of 2008, only to fall just below $2 per gallon by the end of 2008. At its height in the summer of 2008, oil was over $150 a barrel. Now, gas prices have threatened to hit the $4 mark once again by the summer of 2011.

Many people believe the demand for oil will decrease and the cost of a barrel of oil will again go down. Since gas prices have skyrocketed, people started driving smaller cars, moved back to the cities to cut down on driving, carpool, bought hybrids and even changed their driving habits to increase mpg.

The reality is that the demand for oil will only rise. We no longer live in a closed society and are now a part of a global economy. Countries around the world, like China, have booming economies and explosions in their populations. These factors come with an increased demand for energy, and oil is still this main source of this energy for every nation in the world. As the demand for oil rises, the price of oil will rise as well.

A weak economy and even weaker U.S. dollar also contributed to the high price of oil. The demand for oil will never go down again, which multiplies this effect. In fact, it is predicted that demand for oil will increase about 25% over the next 10-15 years.
The increased price of oil affects many other things besides the price of gas. Increased costs in food and products will result from higher oil prices and companies can also choose to increase their prices or cut jobs to keep costs low.

With the increased demand for oil that will never cease, new innovations like electric cars will be in high demand. Electric cars will soon replace the gasoline engine and not cost the consumer over $4 or more per gallon to operate. Innovation will make them more powerful. Bigger, heavier and safer vehicles can be produced, wiping out many of the criticisms that electric cars currently have.

Electric cars will also be cheaper to own and operate in the years to come. As with any new technological innovation, we will find ways to improve the technology to make the production of electric cars more streamlined and economical to build. Materials and parts will be cheaper obtain and the facilities for charging stations will continue to increase. Basically, owning an electric car will become the norm.

Oil prices may go down to all time low levels once again, but this will only be a passing fad. In the long term, we will never see cheap oil again. Preparing for the future by purchasing an electric car now can be one way to curb your costs as a result of an increased demand for oil. Although you may pay a little more up front for the costs of these cars, you will get it back in gas savings. History has proven that new technology will get cheaper as time goes by. But for now, you can do your part to decrease the demand for oil and help save the environment too. Keep your future stable by purchasing an electric car.

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