What can be done with gas prices?

Question

So, as everyone has notice gas prices have gone up not only in the US but all around the world. This increased has created a chain of reactions that has or will affect everyone. In some countries like England gas has raised up to 10 dollars per gallon including taxes which is almost more that half of the actual cost . If we think about it, we (the US) arent that messed up since our prices arent that high compared to them. Instead of waiting for things to get even worst, What do you suggest people or the goverment Should do to maintain low prices. Ideas and suggestions as well as Pros and cons to high prices would be nice. This is for people to think and do something about it.

My ideas:

Pro for high prices: People are more aware of how they spent their gas, helping the environment and its present dangers.

In Mexico the petrolium is manage by the goverment, and even do we all know their reputation, the income it produces its used to help the people of the country by makig more roads and schools. Changes have been noticeable. If its done here not only can prices be regulated but taxes taken out. and revenue can be used to help the economy. The only people that it would affect would be the owners of the petrolium industries but hey they have plenty of money so who cares.

Con. Increased gas prices raised the cost of living. Low income families are the first to get affected sometimes making it imposible for them to survive.

Another idea is to lower or maintain the minimum wage IF AND ONLY IF prices of products are maintain or lowered. This will help balance and let people adjust to their budgets. With increased prices everyday, people cant balance their income with their expenses since it varies day by day and most likely over spending.

Answer 1

You have a brilliant idea.  As per your idea, the gas prices will rise  but since the govt will tax more it will have higher revenues to spend on roads etc and encoursge fuel economy efforts. The oil companies will not be able to make unnecessarly high profits. People will become more conscious about the need to adjust their budget to take into account the rising oil prices.

But most people will be against implementing an idea that would make cost of living higher. They would agitate and bring down the Govt. So, instad of a tax on the gas , the govt. may bettere impose a higher tax on the profits from sale of gas by oil companies. But let the gas prices rise as gas become scarcer and scarcer with the depletion of the oil reserves. People will have to tighten their belts so as to make minimum running of their vehicles, shift to hybrid cars and battery operated cars, use solar powered engines in cars. For the ultimate solution to the scarcity of petroleum oil and gas is to shift over to more fuel efficient technologie and to alternative fuels to run cars and factories, Govy. may better spend on encouraging the development of such technologies that make such shifts possible.