Some economists are actually saying that high oil prices are actually going to be good for consumers and bad for oil companies (in the medium to long term.)
High oil prices make alternatives more attractive and in the end will break the energy dominance of big oil. High oil prices also encourage higher density living and discourage sprawl -- this make the entire economy more efficient.
http://www.vancouversun.com/business/Opinion+High+price+companies+good+consumers/4730429/story.html
High oil prices make alternatives more attractive and in the end will break the energy dominance of big oil. High oil prices also encourage higher density living and discourage sprawl -- this make the entire economy more efficient.
http://www.vancouversun.com/business/Opinion+High+price+companies+good+consumers/4730429/story.html