You would think that with the shift toward fuel efficiency over the last decade, the spending on gas per household would if not get smaller then at least remain level.
But thanks to climbing oil prices, U.S. households spending on gas over the past decade has doubled, according to the Energy Security Leadership Council. In fact, recently, the average U.S. household spent more than 8 per cent of the median household income on gas, compared to 4.2 per cent in 2001.
Our oil dependency and the new American oil boom are, however, good news for employment numbers. The report stated that “more people were employed in oil and gas extraction in March 2012 than at any time since November 1988.” And the oil production is only expected to continue creating jobs. So keep on pumping and paying for those jobs.
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