Missing Points in the Fuel Price Debate
Kenneth Davidson, The Age | May 29, 2008
In the current discussion about the response to high fuel prices one point was missed: the world is producing one barrel of oil for every three we consume. ++ Although the price of petrol has increased by 4.7% a year, in real terms the price of cars is now 40% cheaper than 18 years ago. ++ Devising appropriate offsetting fiscal, monetary and energy policies will become more difficult. ++ Our first-order response should be to switch transport expenditure in the capital cities and to improve public transport.
Tags: | energy efficiency |
oil prices |
