Subscribe to Entrepreneur for $5
Subscribe

The Price of Gas

Look to the brighter side of increasing oil prices: It can actually fuel you to become a better entrepreneur.

This story appears in the October 2008 issue of Entrepreneur. Subscribe »

What do higher gas prices mean? From a macro view, it means the end of the Industrial Age and the beginning of the Information Age. So businesses that operate in an Industrial Age context, such as airlines and auto manufacturers, are hurting.

Higher gas prices also mean the rich are getting richer and the poor are getting poorer. A dollar means a lot more to a person making $50,000 a year than a person making $500,000. So when a gallon of gas goes from $3 to $4, the dollar increase hits lower income people harder. A dollar increase means people who once drove their car to work now ride the bus or train. For these people, a $1 increase in the price of gas can mean a decrease in their standard of living.

Continue reading this article - and everything on Entrepreneur!

Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5.

Entrepreneur Editors' Picks