Gas Prices Around The Globe: Explaining The Discrepancy
Crude oil: America’s addiction. Since the introduction of the automobile, America has become incredibly dependent on fossil fuels to power our various transportation services. We use gasoline to operate our cars, airplanes, and even machinery that make our everyday lives possible. While we are the third largest producers of crude as a nation, we are by far the largest consumers; more than doubling the usage of the second-placed China, as we burn through more than 18 million barrels on a daily basis. But as we have continued our dependence on oil, consumers seemingly have taken the brunt of the blow when it comes to gas prices at the pump. Though we complain about the average cost of a gallon here, our prices do not come close to some of those abroad, so why the discrepancy?