Letters to the Editor
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re: It's not that simple
"Narrowly crafted simplistic ideas such as "uncapping wells", considered in a vacuum, without regard to other economic/ environmental/ social effects, are unlikely to work."
I simply state that gaining the oil from wells previously capped would aid greatly. As for the economic/environmental/social effects, I suspect those would be considerations...but in the long haul, people will demand their government release any oil deposits available.
"You also seem to consider the substitution effect very narrowly. When one good becomes more expensive (e.g. gasoline) consumers will demand less of that and they may compensate by driving smaller cars, consolidating trips, or driving more slowly."
Ah but I DO consider the expense. However, since there is no viable substitute NOW for the cars they are CURRENTLY driving, most people will want more gasoline. Simply put, most people want the quick fix...and they want it now.
"Yes, some vehicle trips might be eliminated. These would be the trips with the lowest value, such as driving to the mall to window-shop when you don't have money to buy anything anyway.'
Ah but it would also mean a reduction of the purchase of other things too...which would affect the economy. For example, look at the cost of groceries...why do you suppose the cost has gone up? One of the reasons is that diesel fuel has gone up fast than gasoline. People still buy groceries because they HAVE to eat...but it also means they have less to spend on other things to pay for the groceries. Again, a lack of purchasing power in other areas of the economy.
"I enjoy traveling. Jet travel requires large amounts of energy-dense fossil fuels. If you want to travel to a distant city in the U.S. or around the world, there is no reasonable substitute for getting on a plane."
Unless, of course, you drive.