High oil prices are good? Why when everyone on the news says it’s bad? When all your neighbors and friends say it is bad?
Because high oil prices is creating a market for alternative energy, conversation, efficiency and energy independence.
The growing demand of oil is growing faster than the long term supply curve of oil. Demand has to decrease and/or alternative energy has to exist. The longer oil is priced high the better. It gives people time to transition from their old car to a new hybrid or alternative fuel vehicle or simply take the metro.
Natural gas, solar, tar sand, plant waste, biodiese, hydrogen, plug-in hybrid vehicles, shale, Synthetic diesel, coal-to-liquid processing, wind, tidal wouldn’t be viable with cheap oil. There are so many new options that are viable because oil is expensive.
There is plenty of energy out there for everyone to use, it is just a matter of finding it. The technology finds will be fantastic as scientists and entreprenuers have an incentive to come out with the energy solution that changes everything.
And high prices helps the environment with a reduction of hydrocarbons. Alternative energy is more earth friendly too.
So high oil prices are the perfect solution to meeting the growing energy demand, helping out the environment. Have a smile next time you pay $70 filling your car with gasoline, you’re helping solve energy and the environment.