What's bad for oil producers, though, turns out to be good for American consumers, who are already benefiting
from lower gasoline prices.
More on Offshore Oil Drilling: Offshore Oil Drilling Graph for Itself Offshore Oil Drilling Will Still
Not Lower Gasoline Prices How Offshore Drilling Works New Bill Would Ban Offshore Drilling and Increase Fuel Economy Standard Will a Rough Hurricane Season Worsen the BP Oil Spill?
Lincoln cites EPA - estimated fuel economy figures of 16 mpg city and 22 mpg highway, for a combined 18 mpg rating in 4x2 form with this new powerplant, which will surely be appreciated by owners no matter
how low gasoline prices go.
And unlike the electricity industry, in which market forces have pushed utilities toward cleaner energy, including natural gas and renewable sources, relatively
low gasoline prices in recent years have led consumers to pay less attention to fuel economy when they buy new cars.
Automakers want rule changes to
address lower gasoline prices and the shift in U.S. consumer preferences to bigger, less fuel - efficient vehicles.
The Japanese automakers placed a bet that Americans would keep buying their stalwart sedans
despite lower gasoline prices and shifting preferences toward bigger vehicles.
February 24, 2016 • U.S. consumers are enjoying
extremely low gasoline prices, but the big drop in oil prices is causing hardship in nations that depend on oil production to fund their governments and social programs.
In a report earlier this week, Scotiabank analyst Carlos Gomes
said lower gasoline prices have fuelled sales of luxury SUVs this year.
U.S. sales of passenger cars are on track to decline for the fourth straight year in 2017
as low gasoline prices and improved fuel economy encourage more consumers to consider crossovers and SUVs.
Overall food prices were up 3.2 per cent in April, while the transportation index was up 0.9 per cent compared with a year ago as a higher cost of passenger vehicles weighed
against lower gasoline prices.
Will
low gasoline prices put America (and the world) in another fossil - fuel «trance» — as President - elect Barack Obama cautioned — and make us forget the long - term energy and climate challenges ahead?
Finally,
low gasoline prices also have short - term effects in the form of more driving and fuel use by the existing fleet of motor vehicles, which is bad news in terms of emissions (and congestion).
CARD claims that from January 2000 to December 2011, «the growth in ethanol production reduced wholesale gasoline prices by $ 0.29 per gallon on average across all regions,» and that in 2011
ethanol lowered gasoline prices by a whopping $ 1.09 per gallon.
However, the pipeline will
not lower gasoline prices for consumers any noticeable amount, and some experts believe it could raise gas prices for consumers in the Midwest.
«Overall, the tone of this report was disappointing as it points to a weak start to spending activity this year, despite the significant boost to disposable income
from lower gasoline prices,» said Millan Mulraine, deputy chief economist at TD Securities in New York.
Along with improving capital spending and consumer spending, helped
by lower gasoline prices, the diminishing fiscal headwinds should allow the US economy to grow much more strongly than for a number of years, he adds.
«At the tail end of last year, most economists were dead sure that
lower gasoline prices would spark a wave of incremental spending, as most periods of declining energy prices had in the past.
«County and ZIP code level data suggest that areas with long commute times — which benefit disproportionally from
lower gasoline prices — have experienced a boost in their labor and housing markets relative to other locations,» Shan and Pandl wrote.
The mixed data illustrate a basic contradiction for 2015: Despite continued improvement in the labor market and
lower gasoline prices, consumers aren't responding with open wallets.
U.S. retail sales fell for a second month in a row as consumers are saving, not spending, their windfall from
lower gasoline prices.
If you shop at Costco, the Costco Anywhere Visa ® Card may be the best credit card for you, since it combines a great gas rewards rate of 4 % with some of
the lowest gasoline prices per gallon.
Peter Hall, Vice-President and Chief Economist for Export Development Canada (EDC) also added that «American consumers are sturdy thanks to solid job growth, rising real wages, restored confidence, better - managed household budgets, and a $ 100 billion bonus from
lower gasoline prices.»
During the Finance Committee meeting, we also considered a report from the county comptroller informing us that county sales tax revenues are down due to
lower gasoline prices and fewer Canadian shoppers because of the weak Canadian dollar.
Mr. Bellone, in his narrative in the budget document, blames the county government's financial problems on lower sales tax receipts because of
lower gasoline prices.
Low gasoline prices and urban sprawl spur more trips; fuel efficieny is crucial to keeping emissions in check
Instead, write, «Studying dung beetles like these might help
lower gasoline prices!»
The current shift back to SUVs that guzzle much more petroleum than other cars, prompted by
low gasoline prices, is a more worrisome sign for future climate change.
DETROIT — Ford Motor plans to revive the Ford Bronco sport - utility vehicle and Ford Ranger mid-size pickup truck in a strategic bet on a surge of American nostalgia, hefty vehicles and
low gasoline prices.
This optimistic outlook prompted the BoC to state that gains in income from
lower gasolines prices will be beneficial to consumer and to Canada's economy — with the income gains being used to either «boost current spending or to repay debt or increase savings, thus improving consumers» ability to spend in future years.»
If you shop at Costco, the Costco Anywhere Visa ® Card may be the best credit card for you, since it combines a great gas rewards rate of 4 % with some of
the lowest gasoline prices per gallon.
Low gasoline prices will boost consumer spending.
«
Lower gasoline prices are making people feel richer,» he said.
«So the oil companies have reduced refining margins and are now fighting to maintain market share on the street which is lower and
lower gasoline prices,» says McKnight.
As Americans take to the roads this holiday weekend,
low gasoline prices are fueling more driving than ever.
HIT THE ROAD:
Low gasoline prices mean we'll take significantly more road trips this year.
If you shop at Costco, the Costco Anywhere Visa ® Card may be the best credit card for you, since it combines a great gas rewards rate of 4 % with some of
the lowest gasoline prices per gallon.
He should forget about new drilling to
lower gasoline prices and start thinking about using «high» fuel prices to stimulate conservation of energy [current gasoline price in inflation - adjusted dollars is not really «high»]
(Remember Obama's foolish claim that we could not drill our way to
lower gasoline prices?)