Oil is not a problem 
Or at least, it shouldn’t be. In discussions about Iraq oil is often mentioned – though I personally think it’s only one of many factors that drove people to actually do this. For some reason, people think it’s very important to keep the price of oil down. But the more I think about it, the only reason this is important is the mindset of the American voters. In other ways, the effects of a rise in prices could very well be positive for everybody. People would become more inclined to buy fuel efficient cars – which would stimulate continued development of that technology, in the end making the supplies of oil last longer. It might harm the American economy, but considering the fact that the US is the richest country in the world already, a slightly smaller lead would not be such a big deal. The US government would make more money (taxes being a percentage of the price, after all), which would compensate at least part of the fall in economic growth. Of course, there are also many products made from oil (plastics) – would it be bad if they became more expensive? Considering their environmental impact and the fact that, here too, we’d have to look to other materials in the near future, it might not be such a bad thing. I haven’t deeply researched this, but really – would it be so bad?
3:16:35 PM 
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