I saw this story on Monday that oil futures may rebound from their current low price. The predicted increase is based on OPEC cutting production and the economy picking up in the second half of 2009.
So oil prices may increase next year? Well some analysts are predicting that demand will continue to drop which will keep prices low. Others think demand will rise and oil prices could quickly spike if new investments are not made. The point is, even the experts do not know, so we should not get comfortable with low prices. We know that at some point the price of oil will surge again and this will result in high gas prices.
The question is what can we do in the interim? We have to take the high prices of the summer as a serious warning. Further reductions in supply or a sudden increase in demand could sharply drive up prices. We must aggressively seek gasoline alternatives while actively improving our conservation efforts.
Wouldn’t it be great to send a message to the rest of the world that U.S. citizens can curb their appetite for fossil fuels? We all need work together during a difficult economy to ensure that changes in our daily commuting habits have a long lasting impact. Passenger Energy is everyone’s chance to make a contribution starting 2009. Do you agree?