How to Deal with High Oil Prices?

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.

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.

Oil price hike is one of the burning discussions in today's world. The hike is mainly due to the taxes levied on the oil. Nothing much can be done about that by us as individuals. But what we can do is check our use of petroleum as fuel and switch to other natural sources of energy, like solar energy or CNG. There is not much the government can do to reduce the oil price but it can urge us to use petroleum as efficiently as possible. The government can also improve the transportation system so that people prefer using public transportation more than the individual vehicle.

Price of oil is increasing day by day. As consumption of oil is increasing. Persons coming from the same area, going to the same destination, can use only one 4-wheel vehicle to come to their destination except using their individual's vehicle. By this, we can consume much of the oil. Use bicycles or we should walk for small distances except using our vehicles.

Oil still be the main resource for transportation and power supply in most of developing countries, but the increase in oil prices affect not only developing countries but also developed countries. Higher oil price will cost higher cost in almost all economic aspect, which relates to inflation in one country. How to deal with it? we need to reduce the usage of oil product and start to develop alternative energy to substitute high price oil. There are several possibilities for alternative energy such bio-fuel, CNG, or electric power vehicle and geothermal or solar panel for industry and power generator. This way, other than to provide alternate energy resource we also be able to decrease our dependent of petroleum product in the far future.

Hello, friends.

We are discussing oil price.

Oil price is one of the biggest problems of Indian economy because the oil price is director related with the price of the all basic goods such as food items, etc.

We are discussing the topic "How to deal with high oil prices". First of all, I just want to tell all of you whenever scarce resources are available it will have more demand and consequently increase the price. Hence only the one option is left to us low consumption of oil. Coming to the public part it can be done through by using more government transportation facilities and also reduce the use of vehicles to the maximum extent.

Hi to everyone.

In order to deal with high oil prices;.

1. Use electric vehicles such as motorbikes, solar energy two wheelers.

2. The government has to make a law in such a way that every individual family should have only 2 cars, not more than that why I said 2 is in order to convey the person because like everyone has the dream to buy a car and have own house in that purpose I told.

3. The government should encourage scientists and researchers in order to make vehicles largley based on electricity, solar energy consumption.

4. Every individual of society has to use a bicycle or public transport services for shorter distance let say 5km this should be made as an law then almost 20 to 30% of fuel importing will reduce because our India population is more. For one person usage of fuel is reduced for 5km its nearly think 0. 25 liter per person of imagine some number if this is followed by all people in India almost we can reduce 20% fuel import.

5. Reaserchers and scientsist has to made experiments on bicycle like gear cycles came into existance and more ways inorder to make atleast students or kids to use bicycles rather than cars and bikes. The creativity in such a way that it should drag the complete interst of student towards using bicyles almost 50% of youth uses bicycles.

We have to use a bicycle for a small distance to travel like market etc or if it necessary then two or three people makes a group and participates in car pulling.

By this way, we can reduce the oil consumption.

Solution to any problem is within the problem. We know that we can't achieve anything until or unless we don't make any efforts for that problem. So it's not only the government who should take care of all the mishappenings in India. We are also part of this country and many
of you must be thinking what we can do for that, how can we be a part of solving that issue.

This can be done in following ways:

- Guys opt for CNG vehicles rather than petrol/diesel variant.
- Carpooling is not a bad idea.
- Rather than why not use a Public Transport.
- Get your vehicles maintained regularly (because more unmaintained the vehicle more consumption of oil i.e. more demand so more hike in price.

My personal experience doesn't fuel your tank in multiples of Rs 10 or 5 (they have all settled for that) opt for 90, 198, 297 it will help for sure.

-And last not the least never sit back and wait for things to happen, make it happen after all you are the one who has to suffer the consequences, not the government (especially Indian government).