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The Hybrid Alternative To Gasoline. Essay

1746 words - 7 pages

There are many potential solutions to the gas and oil situation in the world today. Of all these solutions however, there is one which is within reach and is already taking the market by storm. It is in our economy's best interest that actions are taken to find an alternative to gas powered cars. That alternative has been realized and it is called the hybrid car.I'm going to look at the gas problem and look into why it is an economic problem. I'm going to look into hybrid cars and discuss why they are a viable, logical, and economic solution. I am going to look further into hybrids, how they work, and look at the advantages and disadvantages to the consumer and the economy. We will then finish off by looking at the tentative future economy as it relates to the car market, hybrid cars, and gasoline.As can be seen in figure 1 (next page), in recent months gas prices at the consumer level have reached all time highs as adjusted per inflation. In the chart you can see that in September 2005 an all time nominal gas price of $3.03 was reached. As you can see in figure 1 there are two descriptions of price; nominal and inflation adjusted. The term nominal price refers to the actual price of gasoline to the consumer. In other words the nominal price is the price that gasoline users would find on the big sign at their local gas station. The adjusted price refers to the price of gasoline in the value of money in that time era. Adjusted price is the real price of gasoline and in essence can be used as a measuring tool for how big of a dent the price of gas hits the wallet. If you examine the nominal price you can see that in general it gradually increases over time. We all know this to be true, in that the numbers on gasoline signs keep getting bigger and bigger. But, if you look at the inflation adjusted line you can understand the real price of gasoline as the overall economy changes. Before Katrina hit and refineries were shut down, the price peaks of the 1980's (adjusted by inflation) were still higher then present day prices. Katrina however, has had a drastic influence on the gasoline market which has pushed gasoline prices to an all time high.figure 1It will not be an exaggeration to say that everything in our economy depends on gasoline. Every item that we buy in stores in some way was delivered or maybe even manufactured directly from refined crude oil. With gasoline and crude oil prices continuing to remain high, the economy could begin to experience an overall inflation all across the board. Many times inflation or deflation in an economy can be inversely proportional to the unemployment level in the country. For all these reasons it is pertinent and necessary that an alternative be found to minimize the consumption of gasoline and crude oil in our society, as well as lessen our dependence on it.There are multiple possibilities to relieve the gasoline predicament, such as alternate fuels, alternate vehicle designs, and or public transportation...

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