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.

Hello, friends.

According to my point of view, India should use the non-conventional energy sources to deal the problem of rising oil prices. Because if the quantity of oil is more then its price is automatically decreased. Along with it, India should also exploit the new oil reservoir sources like Gujarat, Rajasthan.

My thought says that we are living in 21st-century and in nature resources are limited but we have need to improve our journey. Evry 1 thinks high prices increase because production is less or demand of product is high but one think is major to devolve our working criteria and exceed resources for future.

This is a supply and demand of a non-renewable source of energy. Thus if the demand for oil increases as compared to the supply as it does then the prices will rise. As a solution to this, we should move towards renewable sources of energy. India is blessed with the Solar power. This power should be exploited to a substantial extent. Done so will reduce the burden on the government to supply combustible fuel.

Also, the government should sign certain agreement or MoUs with gulf countries. This will reduce the pressure on the supply of oil. Also, various companies and corporate houses should prevent the use of motorbikes and other vehicles which burn fuel in its premises.

Hi to everyone,

Oil is Inevitable nowadays. And Just now I came to know that India is the largest oil importer in the world. To stop that need to reduce the using of the oil consumption things more likely motor vehicle, buses & moreover on machines, which work on oil it drinks more than the vehicles.

And in our country each and every home had more than 2 vehicle which runs on oil. Now we are getting oil from other countries, at some point oil is going to end in that countries, need to find some other sources to move on other steps.

When Arab countries had a huge amount of oil they will export to some other countries like India, USA, etc for a low price, Now oil is reducing day by day so it going to be coast more. To avoid that we need to find other options like electric sources to run that machines.

Thank you.

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.

Most answer is we should use less amount of oil. No one will want to spend their money on oil. Our requirement is fixed even increasing day by day so we cannot stop to use oil. Consumption is consumption, requirement is requirement.

Walking and using bicycle, using less oil, all are doing, this is not the solution because no one will want to.

Spend money on oil. Problem will arise until we have not other energy sources.

Hi everyone, as per my point of view there are two reasons for hike in oil prices.

1. Continuous use of conventional energy sources like coal, oil, etc.

2. Government policies.

Now I come to the point first no or very less use of alternative (non-conventional) energy sources like solar energy, wind energy etc. So we lost very soon our conventional source of energy storage.

As far as my second point is concerned, many taxes rope by Indian government or state government on oil like VAT and many more. I think these are the reason which affects the oil prices,

We use more and more renewable energy sources because it's cheap and pollution free.

Thank you.

- Supply and demand: if producers are outstripping demand, prices will fall and if there is a shortage of oil, prices will rise.

- Political events: a war, rebellion or political uncertainty affecting major oil producers may prevent those countries from producing and selling, reducing the supply of oil.

- Economic growth: if demand is expected to grow faster than production, excess supply will be soaked up and shortages will arise.

- Related markets: the futures market, availability of transport, currency rates and the cost and of extraction equipment and labor can all affect the price of oil.