Tuesday, June 17, 2008

No need to save oil !!!!

Petroleum prices have been going northwards during this year. Yesterday’s price was 140 dollars per barrel. Some experts say it can easily touch the figure of 200 Dollars per barrel. In such a scenario one wonders if there is any alternate possible for Petroleum. What if all the oil existing in underground reservoirs is exhausted? What if we keep on relying only on petroleum for all our fuel needs? How much more increase in oil prices can we bear?

I personally feel there is no need to panic at this point of time. It’s true that oil prices are continuously increasing because of shortage of oil. I feel we can still absorb greater prices of oil. If we see all around us we will notice that people are still using there Automotive vehicles freely. The demand in oil has not reduced because of increase in oil prices. Economics tells us that this means oil prices are still at comfortable level.

I am very much sure that we will soon find an alternate to petroleum. Lots of research on finding affordable means of alternate fuel is going on. I am very much sure that soon we would find a cheaper fuel source which can be mass produced. This means that we can still continue to burn oil freely. I sincerely hope that I am not wrong in this analysis.

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