At Witz' End - Gas Prices: Alternatives and Oil Supply
Filed under: Etc., Green Culture, AutoblogGreen Exclusive, At Witz End
Part of the problem is speculation: individual and institutional investors betting on higher future oil prices. Another big factor is the very weak U.S. dollar. But the bulk of the reason oil and gas prices have climbed so high is that age-old Economics 101 supply/demand equation. Global demand, especially by developing countries, continues to grow, while supply does not.Most agree that conservation is the critically important first step in altering that equation. Next comes development of alternatives, some that can propel our vehicles, others that cannot but can displace oil and natural gas now being used for energy production.
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