Why Are Gas Prices So High?

What good comes out of the rising gas prices?

I'm a economy nooby and this is my first time on this section, but I was wondering if there was any good that comes out of the nation's rising gas prices. I watch the news and I hear the it increases the prices of everything and messes up the economy, but is there anybody that benefits from it or any kind of business? Please answer thoroughly. Thanks!

Public Comments

1. Hopefully we will stop using fossil fuels. That is all I can see good coming out of it.
2. The only thing I can see that can come out of this is that the government will start to invest in researching for alternative energy sources. Examples, hydrogen fuel cells, solar power, nuclear plants, and etc. Also, people cut down on the burning of gas/oil because it's hurting they're wallets. In turn, this lowers the carbon emissions producing less global warming than if the prices were still low. There's always a pro and con to things ;)
3. Basically everyone involved in the oil production cycle. Producers require smaller amounts of oil to get same revenue. Look at the stock market and all the oil company's such as Exxon, and Mobil are skyrocketing profits. Service company's as well. Halliburton is booming at the seams. Also you have to remember our importing oil friends. Yes they are now receiving more than ever compensation for there product. Requireing payment for oil imports with hard currency such as gold and not paper money also increases there profit margin. Hence, i world is tied to the oil production and delivery which makes since that everything goes up if oil goes up. Very basic economics but this can be very bad for Americans as a whole. Hope this helped a little.