With further escalation in hostilities in Iraq as the militant group, the Islamic State of Iraq and Syria (ISIS) tries to lock down more oil and gas assets, it is hard not to worry that an oil crisis might be looming. Saudi Arabia has fortified its northern border with Iraq with more military hardware and troops while Iraqi oil industry sources report that Iranian forces were simultaneously moving into areas surrounding the Southern Iraqi oilfields, raising the stakes in a possible escalation in recent border skirmishes. At the same time, Moscow is doubling down in its support for rebel fighters in the Ukraine, intensifying its conflict with the West and increasingly the likelihood that energy trade with Russia will get disrupted.
So far, the looming global instability has not ratcheted up US gasoline prices which are generally hovering around $3.50 a gallon. But it might be a good time for American consumers to think about how well they would be positioned in an oil crisis.
The Institute of Transportation Studies at the University of California, Davis (ITS-Davis) can help you figure out the answer to that question with a new web-based tool, EV Explorer, that allows consumers to compare simultaneously up to four different vehicles on an energy cost basis.