FABB Blog

 

Cut foreign oil: Ride a bike

President Obama wants to reduce our dependence on foreign oil by one-third by 2025. Oil consumption in the U.S. is three gallons a day per capita. The use of gasoline comprises 45% of that oil use. One obvious, inexpensive way to reduce that consumption, especially in urban areas, is to use bicycles. According to the good one-page summary "When People Ride Bikes, Good Things Happen" by Bikes Belong, "Most trips Americans make are short: 49% are less than 3 miles, 39% are less than 2 miles, and 24% are less than 1 mile."

Are you reducing your dependence on foreign oil? If you read this blog you probably are, and we should be proud that we're part of the solution, not part of the problem, when we ride our bikes for short trips. A lot more people would do the same if they had safe, convenient ways to make shorts trips by bike. "47% of Americans say they would like more bike facilities in their communities."

Labels: obama, oil addiction

posted by Bruce Wright at 7:43 AM permalink

 

Cheap oil

OPEC is getting worried. Many OPEC members rely on higher oil prices to subsidize their economies. When the price of oil was high, consumers started to cut back on the use of gas, driving less, using other modes of transportation. This loss of revenue is causing problems back home, so one solution is to try to elevate the price of gas once again.

According to a recent Post article, OPEC Plans Drastic Cut In Oil Production, "Facing its biggest test in a decade, the Organization of the Petroleum Exporting Countries is planning to make a major cut in oil output at a meeting in Oran, Algeria, tomorrow in an effort to stop the slide in oil prices, which have dropped by two-thirds since July."

"Confronted by sputtering world oil demand, the cartel is expected to make production cuts of about 2 million barrels a day to reduce the size of world inventories and to boost prices back up to the $75-a-barrel level that Saudi King Abdullah has called reasonable. It will be the group's fourth meeting in four months as it tries to adjust to the weakening world economy."

Not only is OPEC decreasing production, because of the low cost of oil, many oil firms are reducing their exploration and research: "'We are already putting down the seeds for a new oil spike,' Gheit said, noting that the drop in exploration and development spending would mean lower production capacity in the years to come."

The sooner we wean ourselves from our oil addiction, the better off we will all be.

Labels: oil addiction, OPEC

posted by Bruce Wright at 9:49 AM permalink