Jaithirth Rao, in his column for the Indian Expresssays that we should all root for higher oil prices. As ridiculous as this may sound, economics suggests that high oil prices are necessary if the world is to move away from a carbon based economy into a more alternative energy economy. If the world wants to see any development in alternative energy technologies, then oil prices need to remain high to spur this development.
Read the column at Those Empires of Carbon
Wednesday, June 25, 2008
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