Gas prices are basically never going to go down again
Unfortunately they will, and this is where a responsible government should step in to manage the market for our future, not just for our right now or oil companies profits.
The problem is that we’re not running out of oil reachable with current technology, fast enough. Peak oil is likely driven by reductions in demand, rather than supply, which pretty much guarantees lower prices. I would bet this will be a drawn out process with multiple cycles of demand decreases driving down prices, leading to shrinking oil supply industry leading to higher prices.
Gonna be reeeeallly fun when all the people who daily drive these things realize:
Wait a minute…
what even is peak oil ?
WHAT?! Gas prices are basically never going to go down again and just keep going higher?!
-===-
My guess is they will then all start complaining about the lack of public transportation, having spent their entire lives voting against funding it.
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Unfortunately they will, and this is where a responsible government should step in to manage the market for our future, not just for our right now or oil companies profits.
The problem is that we’re not running out of oil reachable with current technology, fast enough. Peak oil is likely driven by reductions in demand, rather than supply, which pretty much guarantees lower prices. I would bet this will be a drawn out process with multiple cycles of demand decreases driving down prices, leading to shrinking oil supply industry leading to higher prices.