As many energy experts are predicting that gas prices will rise nationally to more than $3 per gallon this spring, a new study shows the heavy toll these spikes would have on Americans’ wallets. The economic white paper, “Ranking States Oil Vulnerability: Assessing the Continued Threat of Gas Price Spikes,” examines the impact of a gas price spike similar to the summer of 2008 in states across the country.
The data reveals that drivers in all states are dependent on oil for their transportation needs, but some states are more vulnerable to oil price increases than others.
Even without an oil price shock, there is a major gulf between the nation’s 10 most vulnerable states and the 10 least vulnerable. The 10 most vulnerable states are (from most to least): Mississippi, Montana, Louisiana, Oklahoma, South Carolina, Kentucky, Texas, Maine, Georgia and Idaho.
The 10 least vulnerable states are (from most to least): Florida, Washington, Pennsylvania, New Jersey, Colorado, New Hampshire, Maryland, Massachusetts, New York, and Connecticut (least vulnerable).
“Our ongoing oil addiction is draining our wallets and our economy, and
rising gas prices will only add to this burden,” said Deron Lovaas,
transportation expert at the Natural Resources Defense Council. “That’s
why we need to move forward with clean energy and climate solutions
that will not only strengthen our national security and our
environment, but will also help revitalize our economy.”
In order to cut America’s dependence on oil and help reduce the risk of oil and gas price spikes, the report urges the U.S. Congress to pass comprehensive climate and energy legislation that limits carbon dioxide emissions and fundamentally reform federal transportation policy to support smart, transit-oriented development.
In Related News…
US Senators working on a climate bill are considering placing a direct carbon tax on gasoline sales instead of regulating oil companies, according to a story on Politico. Read the full story at the link below.
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