..oil on this planet! Will people come to terms with it and move on? We can find ways to send man to the moon and beyond, we can't find alternate sources of energy? Or even if we have alternate sources of energy, why don't we deploy them? What is Detroit and the rest of the automobile industry waiting for? How many more wars is this oil greed going to ignite? Will the stock market think maturely about rising oil prices, accept it, and move on?
When I went to the Automobile Fair in NY few months back, I was very keen to see the alternative fuel options out in the market by the major car makers - they weren't bad - there are options out there. What we need is incentives. People will start moving to alternate sources soon (as oil prices inch higher), but an incentive like - "drive a fuel efficient car and you get to use the car-pool lane" or "you pay lesser tolls, lesser for parking" - might get the middle-class thinking and give the process a much-needed boost.
A top commodities analyst at a major investment bank made the prediction a few months back that oil prices would reach 105$ a barrel. At a time when the prices were hovering just under 50$ a barrel, it seemed a bold/nonsensical prediction. The price has only gone up since then and registered an all-time high of 68$ this week.
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