All entries for Friday 23 May 2008

May 23, 2008

Oil!

Recently Oil prices reached a high of $135/barrel, this appears to have caused consternation amongst many. Gordon Brown has noted this as a problem when reflecting on his loss in Crewe and Nantwich, whilst it cropped up in this week’s Question Time. , that also contained the ever-annoying Hazel Blears.

There are many proposed solutions here – hybrid cars, more fuel efficient cars, better public transport. These all reduce the amount of fuel consumed by the economy. The ever-annoying Hazel Blears argued that we should seek to increase supply – newer fuel reserves. Whilst it is obvious that rising fuel prices, will make utilizing more expensive fields profitable, and thus actioned, as a government strategy this isn’t viable.

Firstly because fossil fuels are an inherently finite resource – they will run out, so this strategy is only ever going to work in the short term. On a more practical note, many scientists seem skeptical about the viability of further north sea exploration. Apparently we gave most of the oil to the Norwegians when drawing the borders.

Unfortunately many ignorant talking heads appear to have taken it upon themselves to propose a tax decrease. This, again, is a short term solution – tax decreases, so the cost of fuel decreases, demand increases, so the price increases. This would encourage exploration – due to the long term price rise, but either way it encourages increased consumption – so the fuel reserves run out sooner. After the immediate gain, we loose out in the long run.

There is another alternative for improvement. It involves a fantastic piece of technology. Its very cheap. By consuming less fuel it also reduces environmental problems. Additionally its healthy for you (though not as much as people think). My suggestion is …

BUY A BIKE

Overwhelming people’s transport options can be fulfilled by cycling – very few people in the UK travel long distance as part of their daily journeys, many of those who do can get their fuel costs subsidized by their business (e.g. sales Reps, road haulage), most of our journeys consist of urban driving. These needs can nearly always be fulfilled by bicycling.

I don’t know how to ride a bike (I never learnt whilst a child) and I’m almost sorry that this isn’t more of a stigma. Does this make me a hypocrit? Of course not … I walk to work.


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