Should the wealthy be taking more initiative to break our dependence on oil?

Question

They can afford cars that run on alternative fuels which are normally to expensive for the average consumer. Yet they buy gas guzzlers which do nothing to bring down the price of alternative fuel vehicles.

Answer 1

I don't think it's much a question of whether they should take the initiative but a question of what they would get in return. Eventually even the wealthy will get tired of the monopolgy on oil prices which could lead to positive action.

Answer 2

Because they can afford the gas. Besides the "rich" are only a fraction of society and if every "rich" person in the world bought electric cars. The price of oil would not go down one cent. It would only be a "drop in the bucket".

Answer 3

They probably didn't become wealthy by being politically correct.  Why should they start now?

Roger, the wealthy loaded up on oil stocks, oil well leases, mineral rights, etc. a long time ago.  Why didn't you?

Answer 4

define wealthy, just because you can afford to put gas in your car doesn't mean you are wealthy. some people need a big car or truck to transport 9 children to school or haul supplies to their business or to their farm. there are many that drive gas guzzlers because they can afford to or because they need to. but why should those people who have gone to college and worked their butts off sacrifice their life and business. we live in the u.s. where supply and demand dictate prices for products, not in a country where the government tells companies what price to charge for its products. if you think something cost to much, don't buy it or reduce the amount you buy. when gasoline gets to point where demand drops the price will come down. just heard on the news this morning that this summer, with gas around 4.00 dollars per gallon travel will only be reduced by one percent. i guess the price is not high enough to curb demand yet.

Answer 5

Most of the people who buy Prius or other hybrid vehicles have incomes that are double the national average income, or more.

Now that demographic is much more important as consumers of fuel than the very rich. That demographic as a whole could not however buy only Prius. There are not enough Prius.  

The question has to be asked, are very efficient cars being left on the sales lot? Or is there a bit of a waiting list?

Alternative fuel vehicles do not appear to be that readily available either. Yes E85 vehicles are often hard to sell. Are richer people trying to avoid using up too much corn to avoid world starvation?

Bio-diesel vehicles are not unusually expensive, but too many of them are not energy efficient cars, so how does this help? Do we want rich people to buy a big pickup to use bio-diesel rather than a TDI rabbit? Why?

Richer people should make intelligent decisions and not buy something that does not make sense for them.

Answer 6

I think the truly wealthy represent such a small percentage of the population that it may not make a difference.

I guess at $90,000 a year folks would assume we should have money to burn and that's why we drive an Excursion. 4 kids, softball/Brownie/baseball/toddler gear take up space and we couldn't nor wouldn't drive anything smaller till they are grown.  I can't afford many things I would like, but that's because we chose children over frivolities...

The amount you save each month on fuel costs are negated by the high car payment, unless you are able to pay cash for your car. Even then it would take many years for you to see a return on your investment in a new car, even an "environmentally friendly" one.

My advice? Pay off your car or buy one you can pay off in less than a year and convert it to some type of alternative fuel system. There are many to choose from.

***Conspiracy theory side note... Perhaps some of the problem with fuel costs going sky high are caused by these eco-friendly cars using less fuel. They cut into the profit margins of the oil companies or the companies are "padding" for future losses. It could happen...

(I'm not saying not to drive one, I'm just saying it doesn't make sense unless you own it free and clear because ALL new cars cost too much)

Answer 7

no it is not their job to p**s away their money on alternative fuel cars.  It is not their job to do anything