When gas prices fall, is it is good or bad for the economy? Read Charles Krauthhammer’s opinion and compare it to mine.Seems we both believe in Don Quixote.
Economics 101 Supply and Demand teaches when prices fall on a product, demand will rise. This is good for the purses of present oil and energy consumers, but bad for the economy and welfare of future generations of consumers. Why? Because there is not an infinite supply of gas and oil. In time, as the supplies decrease, prices will rise.
So what is my point in relation to wise King Solomon? He wrote and said two things three thousand years ago that I believe we should start considering doing now.
A good man leaves his wealth to his posterity, but a sinner amasses wealth for a righteous man. (Proverb 13:22)
A good man transmits the material benefits which accrue from his goodness to his posterity, but a sinner’s wealth is held in store (not for his own posterity but) for a righteous man. ‘A man plants olive trees for his grandchildren.’ In there is the contrast between the righteous man who eats his fill, and the evil man who never have enough to eat and suffer the pangs of hunger. (Proverbs McKane)
Solomon’s Prayer of Dedication
…36then hear in heaven and forgive the sin of Your servants and of Your people Israel, indeed, teach them the good way in which they should walk. And send rain on Your land, which You have given Your people for an inheritance.(Kings 8:36)
Points of This Post.
We seem to believe future technology will discover new sources of energy. However, there will never be any commodity or technology that will be less costly or efficient than our present inheritance of natural resources which were the result of millions of years of time and evolution.
In One, my point is that I predict our future generations will look back at our generation and judge us to be foolish, sinful, and greedy for wasting away rather than wisely preserving our natural resources of energy.
In Two, start praying that God will provide for our future generations.
My Personal Recommendation
All world leaders take a time out from warring with one another to best serve their national interests to control energy sources. Then all have a pow wow to agree to end the economics of supply and demand pricing for natural energy resources, and instead focus on slowing down depletion by investing and managing alternative sources NOW.
If some nations will not agree and decide to instead continue to terrorize and war to satisfy their selfish interests, all the nation who agree, join together and agree not to buy their oil or products that they obtained by warring with their fellow brothers in mankind.
And, yes one of my favorite heroes is Don Quixote, The Man From La Mancha. I also believe this. What the world needs now in addition to love is wisdom.
Regards and good will blogging.
Wikipedia Supply and Demand
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