Will the Oil prices ever go down?? are there any alternatives that can made soon?

Question

Will the Oil prices ever go down?? are there any alternatives that can made soon?

Answer 1

I hope so! What is going on with the gas prices.

Answer 2

No and No.

Answer 3

We may never see gas prices below $2 a gallon.  OPEC - the cartel that manages most of the world's oil supply - and the other oil exporting countries - like Russia - have seen that we can tolerate at least $3 a gallon gas so they are likely to manage the oil supply to keep prices at least that high.

Also the fact that China and India (with a third of the world's population) have ever growing appetites for oil while the known supplies of easily reachable oil seems to be topping out means that demand is essentially exceeding demand, thus driving up prices (economics 101).

Biofuels - alcohol made from grains and grasses - looked like a very viable alternative until we released that we're using our food supply to power our cars and saw food prices soar.  (Some nasty droughts aren't helping here either).

The one thing about high prices is that it greatly encourages innovation for more efficient cars, electric powered cars, etc.

Of course bicycles don't use very much oil, just a few drops to grease the chain every six months or so.

Answer 4

oil COULD go down.....but probably not as low as they were back in the 90s. the oil/energy crisis back in the 1970s causes gas to hit ~$2.66 but gas managed to go down to under a dollar again.

obviously gas has gone past that high and has made new record of ~$4. so since it went down then it is POSSIBLE to go down now. however since india and china are using more oil that can spike the demand making it still go up in price.

also other thing is the US dollar is losing value. whenever our economy gets back on track and our dollar is strong again then oil would be cheaper therefore gas would go down some.

there are plenty of alternative the problem is which one is the most efficient and which one will get the funding to advance?

Answer 5

Hydrogen will make that possible some day.

Answer 6

Fossil fuel is our best way to go. We need to make clear to the Left that we need more power. They have blocked the drilling that could of helped out.