I can barely imagine what the world would be like when people take only essential trips. And walk when things are a short distance away. It might solve the obesity crisis in the US.
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$20 a gallon is a reasonable price, if you ask someone living in 1859 before they found oil in Titusville, Pa. Whale oil at the time was between $50 and $200 a gallon in today's money.
Not that we should base anything today on those historical facts.
Only if you can make the world magically walkable and bikeable. Otherwise it would crash the global economy.
If your implication is that it would get rid of cars, I doubt that. It would really just incentivize and hasten the production/innovation of electric vehicles and charging infrastructure.
A lot of people would die from starvation. When farm equipment is 4-5x more expensive to run, the trucks that bring the food to the processors and stores are 4-5x to run. Food prices would sky rocket.
Only if you can make the world magically walkable and bikeable. Otherwise it would crash the global economy.
If your implication is that it would get rid of cars, I doubt that. It would really just incentivize and hasten the production/innovation of electric vehicles and charging infrastructure.
That in itself is not a bad thing. As electric cars get rolled out though, gas prices will drop dramatically. More likely the government would institute some kind of price control before then. $10 will break the bank for Americans outside rich areas like CA and maybe the DC to Boston corridor.
Fracking is expensive and not the most environmentally friendly way to extract oil. But as soon as gas gets above $4 a gallon nationally, it's profitable. So if you want every man, woman and child tearing up the earth to make money this would be the way to do it. Also, since sex work should not be looked down upon by you people that hate dinosaur juice, this is also a great way to put those heifers back to work in North Dakota. It's been rather dry up there for them, if many ways.
And on a personal level as someone that has the ability to invest in companies that profit in times like this, bring it on.