How can we stop the high increase of oil?

Question

How can we stop the high increase of oil?

Answer 1

we should stop using things that need oil

Answer 2

For now, it'd be nice if the Federal Reserve took aggressive actions against speculators. That would take away the commodities bubble and lower the price of oil a little.

In the long run, we need to invest in new technologies. There is no real other way.

Off shore drilling will only affect our economy about 20 years down the line, just like Alaskan drilling 20 years ago is doing now.

Answer 3

In the long term, the only way is to use less.  In the long run, supply and demand takes over, and there are no ideas on the table that will increase supply by more than a few percent.  That includes driving more fuel efficient vehicles, creating electricity from things other than oil (hydro, wind, nuclear), and setting up proper public transit systems so people have to drive and fly less.

In the short term, ending the saber-rattling between the US/Israel and Iran would help a lot.  One of the immediate worries of the world is that there will be a war and Iran will cut of oil exports and blockade the Persian gulf so even uninvolved gulf states will not be able to export.  If the risk of that happening goes down, so will the price.

Answer 4

tumbling after

Answer 5

is actually sad that the hydrogen car is first introduce in our country a decade ago, but now its already running thru the technology of HONDA, i guess if only our government think of the future before i guess we were able to use it here in the philippines or develop it wise and dont be affected to tax weve got accumulated from oil compainies were like held in our neck. and nothing to do about it in a moment, bit i belive we can do on it in quite some time , promote renewable energy.

Answer 6

Invent a car powered by water.

Answer 7

Go after oil speculators.  Build more nuclear power plants, and build more oil refineries.

Answer 8

The only way to really bring down the price of oil permanently is by creating a viable substitute. Increasing production, opening up new refineries, going after oil speculators, improving relationships with oil rich countries will only help in the short term.   The reality is that as population increases, and as countries continue to develop the need for energy will increase along with the demand for oil.

Governments need to take the lead and promote innovation to improve and create technologies that can power us into the future.  I believe that government can give away grants, funding, and incentives to push for the development of technologies.   Many argue that we need to shift to nuclear energy but the only problem with that is the nuclear energy is not an universally accepted option due to the negative stigma associated with it and the fact that nuclear waste is hard to transport, store.  

It will be very interesting to see what innovations are created in the coming years as a response to the current demands for new energy production.