Will the prices stop rising?

Every week, or every other week, there is a new article on Money CNN about oil prices reaching an all-time high. So do you think the prices will ever stop rising? The way things are going, I don’t think so. And with oil prices constantly rising, the prices of everything else is rising while the power dollar weakens. The stock market is doing poorly, banks are suffering, and homes are foreclosing. Imagine what will happen if another natural disaster occurred? I don’t even want to think about it. While the oil prices may have not been the cause, it is definitely making it worse. Make sure to take steps to protect yourself from being broke. Times are hard so make the necessary adjustments.

Hope for cheap energy source

If there is one good that comes from the oil crisis, it is the pursuit of developing alternative energy. There are five projects in progress right now that will use the Earth’s crust, the ocean’s wave energy, and the sun’s solar energy to power homes and offices. There is too much detail to elaborate in this post, but it is important to every living individual. It is crucial that we start using alternative energy. Not only is the oil supply eventually going to deplete, but the environment is suffering from all the pollution.

GM offers 0% financing for all 08 trucks and SUV’s

The ridiculous gas prices are giving automakers a really hard time. GM, the world’s largest automaker, is offering 0% financing for as long as six years for many 2008 model vehicles. Because of the prices, GM has not been able to sell enough trucks and SUV. They are now offering this deal in order to spark the market. They also announced that they will cut back in the production of trucks and SUV because sales of these vehicles dropped significantly. And on top of all that, they are increasing the prices of nearly all their cars and trucks. It was expensive already to buy and maintain a vehicle. But the company has been in a tough situation for quite some time now. Their stock shares have dropped and it is not just GM. Ford has also seen a drop in their shares. GM even announced that they might cut the Hummer brand. The economy just seems to keep getting worse.

Stuck with a SUV

I know many people are currently driving a SUV, which is very fuel-inefficient, and they can do nothing about it. They could try and sell their SUV, but right now is probably the worse time to sell a SUV. Don’t make any rash decisions. Even though there really isn’t an easy way out, there are few ways to ease the pain. It also does not seem like the oil prices will go down at all. So learn these ways if you have a SUV!

United Airlines cuts 950 pilots

In the previous post, I mentioned that the airline industry was suffering. In this new article, United Airlines will cut 950 pilots in the near future. They will cut a total of 1600 salaried jobs. In order to deal with insane prices, they are forced to cut workers. They are even starting to charge to check luggage. Will the airline be able to survive and how long?

Airlines suffering from fuel costs

One major industry that is really hurting from the high fuel costs is the airline. There were several airlines that had already filed for bankruptcy in the past few years, before the increased price in oil. If airlines go out of business, it can hurt the economy. It would cause thousands of job losses. Even though it is mentioned in this article that the airline has enough liquid to survive this year, it is not unlikely that some airlines will soon run out of business after a year. Think about the goods that are transported by planes and all the people that need to travel to do business. It would not be pretty if airlines went out of business.

Gas Crunch Hits Home

Story

Link to another family that had to deal with high gas prices. This couple had to sacrifice free time during the weekend and going out in order to deal with the prices. They got a second job for the weekend to support their budget.

Gas prcies hit record $4.077

Full Story

Every week, it seems gas prices hit a new record high. As mentioned in the actual article in the link above, the average price for regular unleaded gasoline is $4.077 a gallon. According to AAA’s website, cheapest gas can be found in Missouri for $3.834 a gallon. Last year, the average was $3.018. Will it be long before we see $5 a gallon?

Last Resort

Story

There is an article that is indicating that more and more people are taking the ultimate step in cutting gas prices, which is to move. The article on CNN Money talks about few families that already moved in order to cut gas prices. Many of them moved closer to their work place so they can save the extra drive.

16 Good used fuel efficient cars

As we talked about how high gas prices affect every one of us in my previous blog, there are ways to help deal with the high prices. One way is to use fuel efficient cars. This site provides 16 vehicles that are used but good cars that will save you money.