Oil Drops In 2015, Americans Can Finally Save Money

            2015 was a successful year for all motorists for one main reason: low oil prices. During 2015, the U.S. had some of the lowest gas prices in years due to the decreasing oil prices and surplus of oil supplied. The prices have been so low that they were lower than the prices in 2009. The annual average price was $2.340, which was 94 cents lower than 2014. It was estimated that an average of $550 was saved by each licensed driver this year, which totaled more than $115 billion in all. So long as the surplus of oil continues, watchers predict that the prices will remain low, and may even lower further. The price of oil barrels have decreased from more than $100 in 2014 to below $40 for 2015. Oil producers see the continuing surplus and predict that they will eventually run out of space for all of the incoming barrels. Even with this prediction, the distribution of this oil has not been evenly spread. While the rest of the nation experience prices $2 and lower, the West Coast is refilling on gas within the price range of $2-$3. This major difference in cost is due to differences in state taxes and transportation costs. The five states with the highest gas prices consist of California, Hawaii, Nevada, Washington, and Alaska, in the respective order.

            To see gas prices at such a low price is wonderful when you are a student that either drives to school or has parents that drive you. Oil is a major part of our economy, especially with the reliance we have upon cars. Following the start of the recession, the U.S. saw gas prices well above $3, which discouraged many from taking the time to drive anymore. Everyone began to find alternative transportation methods in order to avoid the increasing prices during the time, whether that be riding their bikes, taking the train or bus, or even carpooling with others. But with these lower crude oil prices, Americans have been able to save their money for food and other needs more than they have in years. This surplus has been beneficial to the wallets of Americans. But with the possibility of restricted space for the surplus, what will happen to the excess barrels with no place to go? I cannot imagine the oil just going to waste but if we are truly experiencing this surplus, we must limit how much oil we continue extract, or risk wasting an already limited supply of a non-renewable resource.

Budget Delays in Illinois Leave Thousands of Students Pressed for Time and Money

            In Illinois, students are scrambling to come up with money they were not expected to pay during the fall semester to their colleges. Lawmakers are delaying the approval of a new state budget plan, which impacts the funds for grants given to students that need the money. The six month delay has required the students that would rely upon the grants to come up with more than $2,000 before the official start of their spring semester, which is in mere weeks. The funds for these grants comes from the state’s Monetary Award Program, or MAP for short. Normally the budget plan is approved in July, which allows the funds to be sent directly to colleges before the beginning of the fall semester. Schools that are supposed to be sent these funds are left to ask students that use the grants normally to pay up to $2,800. The budget will not be approved before the first of many schools demand the money from their students, as the legislature will not reconvene until January 13, 2016. Similarly, Pennsylvania is experiencing a stalemate in relation to their budget plans. Most colleges in both states fronted the cost for the students for the fall semester, but informed students via email that it will not be the case for the spring semester.

            This stalemate in funding is disheartening as it could hinder thousands of students from returning to their schools for the spring semester. Although some are lucky enough to earn the money through working long hours or raising the funds through crowdfunding sources, it is not fair to any of the involved parties, or victims rather. To delay the decision upon a budget that determines funds for thousands to attend school is ridiculous and outrageous. If this is possible in two different states, it could occur in other states as well. With the future of college looming in my future, I am doing everything possible to raise funds for my attendance by earning scholarships, grants, and asking for money for graduation and birthday presents. To see that a grant I could have in my future could possibly be halted because legislature cannot bring themselves to agree over budgets is terrifying. Especially with the increased cost of attending college, these grants are important to the recipients. This delay seems as if the legislature is declaring that these students education is not worth the energy to come to a reasonable consensus. I hope to see a positive change in this particular or we can expect thousands of men and women to return home without a college degree due to monetary issues, which are quite trivial in relation to how important this level of education is.

Unemployment Decline Across Texas, But Will It Be Significant Enough Later

Although low oil prices have knocked the Texas economy, unemployment rates have declined in 9 of the 25 metropolitan areas. Dallas, Austin, San Antonio, and El Paso are amongst the nine metropolitan areas that experienced this particular decline in the month of November. But, statewide the unemployment rate has increased by 0.2% from October’s 4.4%. Hiring was slow across the state for the year. It has been credited that the service sector, health care and leisure/hospitality sectors in particular, has kept the Texas economy from going through a recession, even with the weaknesses brought by the energy and manufacturing industries. Nationwide more than 300 metropolitan areas saw a decline in unemployment rates, 11 metropolitan areas saw steady unemployment rates, and 54 metropolitan areas dealt with an increase in unemployment rates.

This decline in unemployment is a positive factor in our recovering economy for 2015. Following the financial crisis experienced in 2008, this is a refreshing prospect that no matter how temporary still portrays what the future of our economy appears to be. There is still an unidentified problem within these decreasing rates. Are the jobs being created providing an income that is livable? Are these jobs significant in the long run or will these jobs be cut later on due to insignificance? Although it is a major step in reviving our economy, not providing a steady income for thousands will do nothing but steady or possibly increase homelessness rates. Seeing that multiple Texas metropolitan areas are experiencing a decline in unemployment rates prove the possibility of a statewide decline in joblessness, maybe even nationwide. I am glad to see these rates decline, but if the jobs are not significant enough to last a few years that leaves thousands of Americans vulnerable to joblessness in the future. We cannot short change ourselves by providing meager jobs that temporarily support our economy. We must establish jobs that will be manageable and lasting in our economy. As we enter 2016, all economic sectors must take into account the stability of our economy depends upon the stability of our jobs and the income we make. Money is what we as humans survive and thrive upon, and a lack thereof is detrimental for more than an individual. With that being said, the jobs we create need to help individuals maintain some sort of stability.