With oil dipping to around $70 a barrel, gas is becoming more affordable and gives Americans less of an excuse to conserve. I'm not bashing drivers; people have families to support and sometimes public and eco-friendly transportation just isn't an option due to location and/or distance. People can make it to work. This is a good thing.
Another upside of lower gas prices is the extra money in people's pockets, money that can be used to stimulate the sorry market economy in its current state. This is a good thing, as well.
In order to halt the slide, OPEC is planning a million barrel a day reduction to drive prices back up to a more profitable level.
This is a good thing because it will force government and researchers to continue concentrating on alternate fuels and other forms of energy.
Without higher priced oil, it is entirely possible that research into alternatives may slow down.
That would be a bad, bad thing.
Another upside of lower gas prices is the extra money in people's pockets, money that can be used to stimulate the sorry market economy in its current state. This is a good thing, as well.
In order to halt the slide, OPEC is planning a million barrel a day reduction to drive prices back up to a more profitable level.
This is a good thing because it will force government and researchers to continue concentrating on alternate fuels and other forms of energy.
Without higher priced oil, it is entirely possible that research into alternatives may slow down.
That would be a bad, bad thing.
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