...High prices reduce demand. This promotes conservation, reduces pollution, and extends the supply of oil. In the short run, people and companies that use a lot of oil will be hurting. In the long run, they will all adapt and reduce their usage. Eventually all this will reduce the price of oil and the whole cycle will begin again. In the next cycle, things will tend to be better because the technological changes will tend to stick.
If you think the world is ending, look at the "gas crisis" during the 70s.
"Why $45 Oil is Good for You!" by Christopher Helman
Many have said the so called Modern Conservatives think and treat their constituents as morons! Indeed, this may very well be the smoking gun, no no, the Canons of Waterloo!
We live in a country that in most areas, there is no decent and reliable public transportation, we have no choice but to drive cars, and for a host of reasons, little cars are not popular. How could paying $3/gallon, be better than paying $2/gallon for the masses?
It is good for oil companies, but how is it good for Tom, Dick, and Harry? This exceeds their meager tax cuts.
...High prices reduce demand. This promotes conservation, reduces pollution, and extends the supply of oil. In the short run, people and companies that use a lot of oil will be hurting. In the long run, they will all adapt and reduce their usage. Eventually all this will reduce the price of oil and the whole cycle will begin again. In the next cycle, things will tend to be better because the technological changes will tend to stick.
If you think the world is ending, look at the "gas crisis" during the 70s.
They can drive less, trade in their car for smaller less expensive more fuel efficient car, turn down their heating and AC (and wear a sweater or t shirt), take public transport where available, walk more, get their home inspected to see how their energy efficiency might be improved, ...
Everybody wants a life where they don't have to adapt or change. It isn't going to happen, so they will have to just get over it, adapt, and more on.
Adjusted for inflation, gas prices were MUCH higher in the early 1980's ($3/gallon). Right now in Europe's gas is about $5/gallon. It's typically the libs that think our gas should be priced at $4 to $5. Confusing to hear it come from Forbes.
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