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Fuelin' Woes While the Energy Bill making it's way through congress still has a ways to go, at least consciousness has been raised on the subject. Attempting to change CAFÉ standards to increase to 35mpg, a 40% increase, mandating huge increase in ethanol production (watch corn-based food prices increase) and supporting “plug-in” hybrid vehicles. Gasoline consumption is expected to rise to 261bln gallons/year by 2017 over the 20bln gallons/year we're using today. So watch gas prices ascend yearly over today's prices (see below). Meeting these new fuel standards will require rethinking how vehicles are constructed. International Prices (as of June 29, 2007) Dubai…………………………………………….$1.70/gal Cairo…………………………………………..…$0.86/gal Lagos…………………………………………….$1.92/gal Buenos Aires …………………………………..$2.32/gal Kuwait City ………………………………….….$0.79/gal Mexico City………………………………….….$2.34/gal London, UK…………………………………..…$6.65/gal Berlin……………………………………………..$6.42/gal Oslo……………………………………………...$6.48/gal Hong Kong……………………………………….$6.30/gal USA pricing San Francisco……………………………………$3.32/gal Chicago………………………………………..….$2.69/gal New York City…………………………………….$2.76/gal Source: Dan Lundgren Petroleum Industry News |
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