Funny, I was just thinking this two days ago. I thought I heard something about the gov't talking to oil companies about all the money they are making off us, and thought "Well, so is the government. They should stop taxing gas for a while." It would be good if they do this, as I cringe when I go to the gas station these days.
I also wondered what would happen if we ('we' as the US, or "Western" nations) said "We'll only play $75/barrel of oil." We all know there is really no reason for these high oil prices, aside that we keep paying it. I'd think $75/barrel is probably reasonable, so that's what we should pay. What would happen? They won't sell to us? We could use our reserves, while the fact that we aren't buying boosts supply, which would naturally lower prices. Crazy thought, but I'm not really sure it wouldn't ultimately make prices lower. This scenario would never happen, but I think it could work!
Posted by Kevin at April 16, 2008 03:31 PM