Being a luxury product, oil is very expensive. When you think about it, it’s kind of crazy that something so valuable can be expensive.
If you were to go out and purchase it at the grocery store, you would probably find that it was a pretty pricey commodity. You would have to pay a lot for it too!
Most people cannot afford very expensive things simply because they do not have a lot of money left to spend it on. If you were to ask anyone where they would recommend to purchase oil, the majority of people would say the more affordable price point is okay!
Olympian athletes typically pay close attention to price when traveling. Many hotels and resorts offer discounted room rates for travelers with oil industry ties.
Contents:
population
both large and decreasing, population is an important part of the economy in Wyoming. Since it is costly to live in Wyoming, we look into why Wyoming is expensive and what changes would help lower cost of living in the state.
Wyoming has a population of over 6 million, which is around the size of Texas. This makes it one of the more populated states in the union!
Since there are so many people living in Wyoming, it can be expensive to live here. Even though this state is big, it does not have many large cities that compete for residents.
To find a town or city that competition exists for, you would have to go north or south! There are no cities east or west that compete for residents. This makes it hard for people to find a place to live because there are so few area mid range costs.
tourism
Wyoming is a very tourist-friendly state with a lot to see and do. This tourism mode is expensive, though!
When you look at how expensive Wyoming is, you will see that it is not really for everybody. However, if you are looking to visit Wyoming and enjoy your trip, then renting a car is the way to go.
You can drive around in your own time and find what you are looking for! Even with just driving around, the state feels different than other places as there are so many tourists.
The most common ways people travel in Wyoming-the-way: 1) by train, 2) by plane, or 3) by car.
commodities
As we discuss in the bullet point, commodities are a large part of the economy in Wyoming, and that’s why it’s so expensive.
For example, natural gas is very expensive to produce and transport. As a result, few people get into the business as it is expensive and difficult to work with.
Additionally, commodities like oil & gas are down-market investments these days as they are not always reliable or profitable. As a result, there aren’t too many companies that require large quantities of anything!
Another factor in commodities cost is transportation costs. While Wyoming isn’t exactly far away from anywhere, transporting things there can be costly! For example, via truck or ship.
Lastly, production cost- both money spent on equipment and wages paid for employees involved in producing something.
rural vs. urban
the term urban refers to places with large populations. If you were to describe a city, what would you say? Would you say colorful, exciting, and with lots of options?
If so, that’s what an urban area is like. If not, it’s typically more expensive. The larger the city the more expensive it will be.
For example, Los Angeles is very large, has a very high population growth rate, and costs more than smaller cities like San Francisco or New York City.
Other reasons why cities cost more include costly housing and employment situations, poor public health and safety records, and generally low quality of life factors.
Parallel to the differences in size between cities is the cost of living. In order to meet personal expenses in a more expensive location, people must pay higher costs for housing, utilities, transportation costs, etc.
the dollar goes far
aside from a few spectacularly expensive destinations such as Yellowstone National Park, most things you’d want to see or do in Wyoming are relatively inexpensive.
That is, unless you want to see some of the most powerful mountains in North America or enjoy snowboarding and skiing at some of the highest elevations in the country.
Many things are priced at a lower tier than they would be farther away in the United States. For example, tickets to attractions like Mount Rushmore or Old Faithful are less expensive close-by, like 90 minutes away.
These attractions are an hour and a half drive for me! I recommend renting a car so you can enjoy these two attractions more easily. They are very scenic, but one hour and a half is enough time to take it all in!
Another tip: if you want to experience something special, wait until it is winter before going.
cost of living
Cost of living is a major issue for people who are busy. There are so many things, so many places, and it can be difficult to determine which one is best for you.
It is important to know what location in your mind you were talking about when we discussed cost of living. If you were thinking about affordable cities in Europe, France or Portugal, then Cost of Living in Europe is the right article for you.
However, Cost of Living in Wyoming is not a location that people usually think about-at least not on this scale. So how do we make Cost of Living in Wyoming an issue that people want to talk about?
We will start with the obvious: decrease pride in conservative values and actions. This will decrease cost-of-living-type issues as well as increase cost-of-living issues because people are dissatisfied with their country’s policies.
Then we will talk about why pride in conservative values and actions are decreasingly important, and address other potential sources of political influence.
real estate is pricey
Real estate is a very profitable industry. Property owners charge a monthly fee to advertise their location and offer residents and visitors a chance to purchase a piece of land or access to the outdoors.
This can go a long way in creating more money-making businesses and homes for people to buy. However, when it comes to purchasing a home, there are many things that need to be done.
Home prices are extremely high when you take into account everything that has to be done to purchase it such as insurance, inspections, etc. After all the professionals look at it, they add another layer of cost and say it is high.
Another big factor in home price growth is demand. People want new homes and states with low demand can keep sales low so people overprice their properties.
why live in Wyoming?
If you’re thinking about moving to Wyoming, you’re in good shape. This state has some of the best weather, amazing scenery, and incredibly rich history.
But if you do decide to move to Wyoming, there are several reasons that cost you money. Some of these reasons include high costs for groceries, expensive healthcare, and overwhelming accessibility to oil and gas wealth.
For example, according to the U.S. Census Bureau’s 2017 American Community Survey (ACS), approximately 1 out of every 5 people living in Wyoming is foreign born. As a result, many immigrants find it difficult to understand government programs and how to obtain and maintain an adequate job.