When the hurricanes hit in Louisiana, prices of gasoline soared to over $4/gallon in some places. A majority of it was gas stations gouging to make a quick buck, but when you think about it, gas prices at that level won’t be bad for America. Think about.
Back in the day when gasoline wasn’t needed as much and coal was a much more highly demanded fuel, technological advances were being made. Coal was becoming more dangerous to mine and there weren’t as many cars. Technological innovation had to take over to replace an ever more demanding public for fuels. In comes, refined oil (gasoline). Cars became more widespread and gas stations were popping up everywhere.
Now we are in an age where gasoline is getting more expensive and it is the root to technological innovation. As prices rise, more and more innovation is coming along. Oil Shale will have to be drilled and melted for more oil. Hydrogen stations will soon pop up to fuel Hydrogen fueled cars. And the future of the economy will not rely on fossil fuels or gas, but Corn and Soybeans. So, OPEC, bring it on!
