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Showing posts with the label oil price hike

Oil price hike, Oh no! Not again!

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In the recent oil price increase trending to be weekly, it is not surprising that people will think twice in buying a new vehicle. We need to take into consideration of its primal usage, is it really a need or just a luxury? Oil plays a very important role in running a country’s economy and not only on a family’s budget. Economic recession causes slowdown in economic activity which results to rising unemployment rate, high priced commodities, and bankruptcies.  Using alternative oil sources like bio fuel, made of biological products and bakken oil shale , oil coming from a sedimentary rock unit could help the government in the reduction of oil imports. If we could produce additional oil, it will generally help in the increasing oil demand in the country. Production on our own will mean more people will be employed, more money to improve the nation’s economy.  Having a family vehicle is really very convenient, as we can hold and budget our own time in terms of traveling. We could mak