Sunday, November 16, 2008

Silver lining in bad economic news

The banks and financial institutions are in trouble because of their greedy actions and lending money with easy terms. Now we are all part of the bail out whether we like it or not.

With 30 to 50% loss in our retirement accounts, the only good news is the drop of almost 60% in oil prices and consumers buying gas for little over 2 bucks again. The interest rates are lowest but few banks are in lending mood.

Drop of $80 per barrell in oil prices in 30 days. Vow! can the world see the power of demand reduction in fuel caused by adverse economy. With planned and strategic moves, If we can keep the price below $50/ barrel, billions of dollars will stay home as compared to going to foreign oil suppliers.

This is the time to cease the opportunity and increase our commitment to design fuel efficient cars giving a minimum of 35 miles per gallon and better yet put millions of plug in hybrid on the road. Subsidize and change all the light bulbs to CFL or LED to cut the consumption down for lighting. Create a Large GREEN BOND fund to loan money for green retrofit with 10 year payback plan.

Mr. Obama has the new generation behind him and it is for their sake we should consciously make the demand reduction to keep the oil down for ever and some day we can say to the suppliers- No thanks we do not need it.

That will be the day when my dream will come true. I am optimistic that it will happen with smarter leaders that the world now needs.