How to Deal with High Oil Prices?

I think that oil prices are increasing nowadays just because of high consumption. When the production of the product is low and demand is high automatically the rate matters. We can use alternatives like solar energy or many renewable energy.

I think we have to reduce the consumption of oil. All the employee of government offices should be restricted to not use bike, cars for one day in week. All people should use bicycle to go to nearby places. We should use public transportation facilities like bus, trains.

We should consume less oil by not using oil. We should use CNG either than oil. Because it's impossible to control oil consumption at this stage. And we can't control our population so we can do this from my point of view.

We know India is a second largest.

Country in the world. The demand of oil is more in India. One third of the population of India is youth. Almost all using bicycle rather than bus transportation. We have switch our vehicles cng.

Govt should implement rule that each family should have one our two vehicles. In these way we can control high oil prices.

The oil prices affect each and every sector of the economy through a direct or indirect channel. The oil price also affects the every entity in the economy. So a change in oil price affects an oil company's performance, a country's economy and customers saving and consumption behavior. If the general price for the oil is increasing then the customer has to pay more for less amount, which will reduce the consumer saving. The impact of oil price increasing on as a whole depend on the economic structure of the country, for example, the price increase will be beneficial for oil exporting country and a burden for oil importing country. For an oil company which is involved in the exploration process of the oil, a price increase will be beneficial. But if a company which business is involved only refining and distributing to the customer will be less profitable.

I am GOKUL KHANNA.

I believe the oil price can be controlled by two means. One of them is to reduce the demand and another one is to produce more crude oils. I don't think it's possible to produce crude oil since it's the gift for a human being. What we can do is to go for alternative methods like hybrid vehicles.

On top of all these, we must create awareness among people what is the economic background behind the oil we buy. Encourage then to carpool or to use public transports. By this ways, the demand for petrol can be reduced. More electric powered train systems have to be introduced. The bus fleets should be increased.

I hope by these steps people would choose to use the transport facility and reduce the demand for petrol.

But is this going to happen all over the world? So may be the new oil reservoirs has to be found. To meet the future needs.

Thank you guys.

Hello, everyone.

According to my point of view, when compared to other countries India has many types of taxes based on that the oil prices in India are high.

And regarding usage almost per person 2 vehicles are available so the usage is also high.

Hello, friends.

According to my point of view, we should focus on other sources of energy like biochemical energy source (artificial photosynthesis), we should create opportunity and develop other energy sources to make oil because we cannot continuously be dependent for energy on oil. We should also focus on developing our technology.

I think to deal with high oil price we start to look for an alternative. It's better to have an option because if the oil prices got its height due to any of the unavoidable reasons then we already have an alternate but for that, we have to look out for it now. And also we start to use bicycles and electric car or scooter that is now available in market to reduce the consumption of fuel and less we consume much more we save its in our favour and in favour of our society too!

Rather I suggest having a walk if it is not too far.

Oil price can't be dealt with unless we take collective effort and a collective effort can b only possible if each and everyone take measure like using public transports which at times less luxurious but it will lead to better life in future in terms of availability and relevance of oil to each and every people at a minimal and an affordable rate.