Relatively low taxes have kept pump prices far below most other developed nations, which some say is precisely why the current runup is so painful.

There is some evidence Europe's high gas taxes have capped its oil consumption.

Oil use in the United Kingdom has basically stayed flat from 1980 to now, while in France it's dropped 17%, according to figures from the Energy Information Administration.

In the U.S., meanwhile, oil use is up 21% over the same period, although the country has added more people and seen its economy grow slightly faster.

 

Submitted: May 2, 2008    Views: 108    Comments: 0    Likes: 1   


View Article: http://money.cnn.com/2008/05/01/news/international/usgas_price/inde...


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