Why I think high oil prices are a good thing
So I realize many of you probably hate me already for starting off this post by saying that high prices are a good thing, but hear me out for a second.
Think about the benefits of higher prices. High prices cause people to rethink there commute, either by carpooling or taking public transportation. Less people driving means less slow moving traffic, less chance of an accident, and less pollution.
It also means we are more likely to see innovation in the automotive world. The internal combustion engine has been around for 100 years, and it’s time we find something better and more efficient. Electricity comes to mind as an obvious choice as ethanol was simply a terrible idea. Wired magazine’s feature article lays out Shai Agassi’s electric car plans, something that I think could help build momentum for the electric motor. Basically he is going to start the battery and electric supply business so that the car manufactures can simply build cars. Could it work? I hope so.
One year ago Steven Levitt, author of Freakonomics, wrote that the gas tax should be increased. I would be curious to know if he still feels that way. While I don’t enjoy spending an ever increasing amount of money on gasoline, I do realize that oil consumption and peak oil are something we need to take very seriously. So many things come from petroleum, it’s almost stupid to waste it on driving when there are alternatives available.
Next time you’re at the pump, wincing in pain as the price on the pump goes up and up, try to look on the bright side. And maybe hope that changes come around soon.
