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Thread: How long will the oil price last?

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[quote=APAULT,247844]A difficult one!  The price of oil now might be just a spike so a short term support by the government is not such a problem.  Howver even if it falls it is unlikely to fall tas much as it rose.  the reality is that the price of oil will continue to rise until we really start producing aalternatives.

So in the longer term China needs to remove its dependency on oil, by encouraging the use of renewable energgy sources, and secondly by reducing consumption.  The most obvious way of reducing consumption is to put much higher taxes on the 'gas guzzlers' that the Chinese new rich seem to love so much, and put a whopping tax on fuel so as to encourage smaller vehicles.  It is absurd that in a socialist society that a subsidy to maintain the price of petrol at the pumps will benefit this rich group.  While it also interferes with the free market mechanism it might be preferable to allow the pump price to rise but then subsidise the public transport and truck operators.

As part of the alternative fuels approach, the governmnt needs to regulate against city govrnments which have banned electric bicycles.  This is a cheap means of trnsport for the masses which is far less environmntaly that gas guzzlers.   But the gas guzzlers of the rich can continue to use valuable oil resources and damage the environment.  This is not 'scientfic development'!![/quote]

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