06-01-2008, 01:51 AM
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Re: Oil drops below $129 a barrel on demand
Quote:
Originally Posted by Michael1
Good questions, but of course it varies by state and on down...
Taxes on gasoline are much lower than in Europe, but on the flip side many nations actually subsidize it (China, India, and so on). That's the biggest reason that oil keeps rising ... no matter how much we try to 'conserve' here in the US other developing nations will continue to pay whatever investors push the price to because of their rapid growth. China is lending the US money these days. They don't care about higher oil prices, they will use however much they want to use...
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So that points to the fact we need other competing energy sources. I hope whoever is in congress and the White House in the next few years takes serious action on the problem. Speeches are O.K., but give me the speech after you've actually pooled the creative minds of technology and sociology and are implimenting a course. Thank you very much.
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