Reply #10: Are lower oil prices really the best thing, though? [View All]

[More Than A Feeling]

Lower oil prices mean that more oil will be consumed, thus speeding up the day when the world will run out of oil. At the same time, cheap oil means that there is less incentive for costly attempts at innovation to find alternatives to oil. So efforts to promote alternative fuel sources will be hamstrung, because it will always be cheaper to just use oil.

I understand that lower costs at the pump are a political winner, but is this really in the long term best interests of this country?