Quote:
Originally Posted by Hatterasguy
Oil prices should go up but a price increase of over $1.20 in a year is to sudden and drastic for consumers to adept, hence the economy suffers.
A quarter a year or less would probably be slow enough for people to adapt.
This is a big country, we need reasonable priced energy to make it work. Oil needs to raise slow enough, ie controlled by normal market forces so other sources of energy can be brought online.
Natural gas for example which right now is about $1.70 for the equivalent of a gallon of gas.
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I would like to see gasoline/diesel raise at a nice steady rate of about $0.50/gallon over the next 5-10 years until it reaches about $6-8/gallon. That would be slow enough for people/businesses to adjust and should significantly reduce consumption and increase production. We would see real adaptation of alternate fuels (including CNG) if everyone knew where prices were going over the long term. I don't know how to accomplish price stability without significant government controls, which I'm not a fan of.