Why do we continue to allow these oil prices to continue to climb?

Question

Are we stupid or just naive? We are allowing our economy to die and we are doing nothing about it, except continue to drive automobiles that consume on average 30% more fuel per gallon than any other county.

Answer 1

I don't know where you get your facts from regarding paying 30% a gallon more than other countrys.  There certainly is no European country that pays less than we do, nor Canada, Japan, or most South American countries.  Gas prices are regulated by the laws of supply and demand.  And gas has a lot more people competing with a dwindling oil reserve.

Answer 2

You have less control over prices than you fancy.  Yes, we could be more efficient, but don't think that if we get smaller cars, we'll return to an idyllic time of 19 cent per gallongas.

Demand throughout the world is increasing rapidly as developing economies begin to afford automobiles (and many of their governments subsidize consumption).  There's no going back.  Gasoline use throughout the world is growing faster than our ability to find and develop more wells- we're not really in danger of running out of the stuff for quite some time yet, but we'll quickly begin to lose the ability to pump enough oil to match demand.

Answer 3

You do know of course that those countries with much higher efficiency automobiles also have much higher gasoline prices.  Our consumption will go down when the market drives it down, not before.

Answer 4

Oil prices are climbing because of a higher demand.  Not because the big bad oil companies are gouging us.  Considering the United States has not built a refinery in 30 years, and global demand for the product to booming economies like China and India are at an all time high, price is naturally going to climb.  It's the old supply and demand.  If you really want to get oil prices to go down, tell your congressman that you're sick and tired of being overtaxed on a gallon of gas.  If there were no taxes on gas, a gallon would cost less than 50 cents.  Obviously there will always be taxes, so consider even half of the taxes we pay now.  Gas would be about a $1.50.  So if anyone's doing the gouging, it would be the idiots in our government.  If you want to lower oil prices without cutting taxes, since that's almost impossible, let's start drilling for oil in Alaska.  There are plenty of safe ways to get to it without harming the environment but the environmental wackos are getting in the way and preventing it.  And as far as driving cars that consume 30% more than everyone elses.  That's what the market is demanding.  If the market demands cars that are much smaller, it will provide them.  It's called free enterprise. Car companies are producing vehicles that consume more fuel because that's what people are buying.  It doesn't make much sense for them to make a product nobody would buy, does it?  They'd go out of business.  That's the beauty of free enterprise.  When people start demanding it, the market will provide.

Answer 5

I agree with you. We need to get those 50MPG diesels they are driving in Europe. There are several (Ford, Toyota, Peugeot, VW, others?)

We have just been spoiled with cheap fuel for years. Europe and other countries have had very high prices for years. As the price goes up, I am sure we will see more and more of them here.

Answer 6

we allow??? you are a hoot....tell china and india to get back on their bikes..they dont need cars.... anwar....a bunch of oil sitting doing nothing...write a letter to the govt...

Answer 7

We allow prices to climb??  OK, then, don't allow it.  Oil prices are set by commodity traders and reflect our desire for the amount of petroleum we consume.  (Most industrialized nations are taxed much higher, so consume less per person.)

Another contributor said we should get the high-mileage diesels like they have in Europe.  We don't have those vehicles thanks to the environmental groups, who passed laws for emissions that the diesels couldn't attain.  We may see more diesels soon due to clean diesel technology.  The environmental groups and the conservation groups do not have the same agenda.

Answer 8

The reason is we play a game called the stock market and in doing so, we have forced the price way up.  While in reality we could be paying on say about $55 a barrel and it is such a hot commodity that we trade it as such.  So the only people to blame are the share holders in any company with "OIL" investments.  ---Haliburton-- need i say more.  This economy is all messed up when an oil company shows $100 billion profits but we foreclosed on over 10% of Americans.  You want tax incentives to help put money back into the economy... Well, h**l i think if we capped the oil price and put the savings back into your pocket we could come out of this reccession quick and easy.  

I know you say at what cost the enviorment.

Well right now we can either be capitalist or we can save our economy and try going GREENER.

Answer 9

Part of this is propaganda.  People like Daniel Yergin from Cambridge Energy Research Associates keep claiming that oil prices are about to go down again, the newspapers keep repeating what he says, and people believe it.

Never mind that his record is terrible and that he receives large payments from oil interests.

People believe this stuff in no small part because our government is part of the propaganda apparatus, and the major media are owned by mega-corporations which have interests there also.  This is one reason why the changes in law which allowed the media consolidation were such a bad idea.

Answer 10

if you think its high, try walking!   its just more than your accustom to seeing.   have you lived in Europe by chance?  trust me 4 a gal is not high.  we have been sheltered now for years in this country and now we are simply waking up from the party and having to deal with the hang over.com