by J. Merrill

Created on: February 21, 2010

A $200 barrel of oil is an interesting thought. Thinking back on the oil prices in 2007-2008 that topped out at around $125 a barrel, it was a scary time. Gas prices had breached $4 a gallon for a country that 20 years ago had a gallon for less then $1. The economy was strained nearly to the brink, the vast majority of people refusing to drive anywhere unnecessary. Driving around was a luxury many people simply could not afford anymore. Of course, this spike in fossil fuel prices has started one of the greatest technological and behavioral changes that will affect generations to come.

The signs of behavioral change started first. People tried to stop driving, deciding to take public transportation, or walking when reasonable. Most notably, sales of most gas guzzling cars came to a near standstill due to the obscene amount of money to pay for gas alone. Also, oil is not only used to power our cars, but in some instances heat our homes, leading many to become more energy efficient. Overall, the expensive fuel prices led to a society that is more energy conscious. These behavioral changes can be classified as being environmentally friendly or trying to pinch pennies, but either way the enormous raise in gas prices caused a public outcry for sustainable and renewable fuel sources.

This public outcry brought green technologies into the limelight of scientific advancement. With many claiming these technologies to be the start of the future, funding has poured into renewable energy technology experiments and labs with the force of Niagara Falls with no immediate signs of slowing down. The gains we have made so far are stunning. People are living off solar and wind energy they collect in their own backyard. But most importantly, the rush to develop better batteries and alternative fuel sources such as hydrogen. With this technological push, Hybrids have become fairly commonplace in the new vehicle market, and a plug in hybrid, capable of going 40 miles on just electricity, is slated to go on sale in Fall 2010.

With these thoughts in mind, a $200 barrel of oil does not seem bad. High priced oil seems to be the mechanism driving many towards alternate fuel sources due to their new economic viability. It has made us change gears and push our resources in different directions, but overall the creative destruction created by high oil prices have inevitably led to better green technologies and more knowledge in the capabilities of alternate and renewable resources.

Learn more about this author, J. Merrill.
Click here to send this author comments or questions.