I asked this before but am trying different category..
Ok, I don't like the current prices either!
But to be perfectly honest looking at it impartially they do seem about right. Consider the following:
1. Oil is a finite resource. There is less oil on earth today than at any point in human history, and there will be even less tomorrow.
2. Demand is going UP, with China and India taking a larger share.
3. The oil we do have left is harder to get at, and is lower quality (requiring more refining).
Now granted the oil companies are making WAAAAY too much money, and something needs to be done about that! But if gas were about $3.50 a gallon with less of it going to oil company profits and more going into stuff like
- Fixing our crumbling roads and bridges
- Exploration for new oil sources
- Improvements and expansion of refining capabilities.
- New technologies to replace oil. (it will, after all, be gone eventually)
What do you think it SHOULD cost and why?
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