Other than the short term pain, higher fuel prices will end up being good.  The reason global warming wasn’t taken care of 25 years ago was due to the drop in the price of petrochemical fuel after the “oil crisis.”

Petrochemical fuel is bad for the environment and that is bad for all of us in the long run.

Current fuel costs do not begin to reflect the true total cost of using the fuel, only the cost of extracting and delivering it to us.

Change hurts? Sure!  In the face of what is arguably a tough spot for REALTORS, my wife who is a buyers agent and spends half her day previewing houses comes into my office today and says, that’s it.  We have to buy a Prius.  Seems that gas topped $4 today.

That will set us back $25,000 when revenue is sort-of being hard to find.  Hurts!

Will I save money over several years, probably but only due to expected high cost of petrochemical fuel.  Is our doubling our fuel mileage (and reducing our greenhouse gas emissions by half) a good thing for the world, certainly.  Despite the hurt from the increased cost of using fuel, you will benefit because it will get me and many more like me to do what we should be doing anyway.

Not that it is even remotely a political possibility but I suspect that putting a $3US tax on a gallon of petrochemical fuel and shunting the money to energy savings and R&D would probably be a benefit for all of us and it wouldn’t take too many years to see the benefits.

No, will not ever happen politically but those of us who are hoping for an energy/global warming solution may be finally getting what we wish for even though it is being a bitter pill to swallow.

I just hope fuel costs don’t drop back down like they did 20 years ago.

Apples?  Just when we thought they were good for us!

What isn't up? . . . But apples cost more? . . . Need to plant more fruit trees and drill for oil . . . :)

Hey if you are willing to pay $5 for a cup of coffee at Starbucks or your favorite coffee shop you don't really have anything to complain about when gas hits $5 a gallon or more...

You can't change the price so why worry about it. I drive a Ford Expedition and I don't really care about the price. It is what it is.

I just have to sell one more home this year to cover my gas expence... Oh Well.

I stopped eating apples a long time ago.  Would I rather go 20 miles down the road or drink a cup of coffee.  That sometimes is a hard choice, I think they are priced pretty close.

Lol, Coffee is the first choice of course.

Howard - Thanks for the excellent comment. You are right change is slow and even if we do find the new miracle fuel everybody won't change over at once. I still see huge SUV's while there are hybrids to be had by all.  20 years ago fuel costs fell for many reasons many that aren't applicable today. It is unlikely they will fall any significant amount

Richard - Actually apples are quite bad haven you seen this!!

Mike -  Tell me about it everything is more expensive!

Dennis - Maybe it is like smoking some people only quit when they see the culmulative costs incurred

Robert and Florence - It is all relative I guess. I rather have the apples even thoug they are deadly for you (apparently)

Some people oil will reach $300 or $400 a barrel one day because of increased global demand (thanks in large part to hot economies in India and China) with dwindling global supplies. But with increasing oil prices almost everything we buy will get more expensive and we'll have to buy less of it (unless you are so wealthy that the increasing prices insignificantly affect your buying), including gasoline, so I figure the supply and demand formula will simply regulate itself. The less demand we put on oil and gas, the lower the price must drop and things will become cheaper again. Also, before a barrel reaches $400, I'm sure many alternative/renewable energy options will become more economic and their prices will come down. This will all benefit the environment along the way.

michael

http://shittyofcalgary.com

Some people *think*...

Michael - I completely agree with you. As you mention as technology improves so will the ability to produce/find oil improve thus helping to regulate oil prices.