Let's not forget Bob Pisani...he is as worthless as they come. There are a few good programs on that station, but the network would do itself a favor by canning Pisani, Kudlow, Kneale, and Gasparino (who is to CNBC what Omarosa was the Trump's show...and he should be told: you're fired)
There are a lot of benefits to high oil prices. I'd love to see gas at $10 a gallon or more. Here are some of the reasons why: 1. Higher prices would curb carbon emissions and prevent the world from killing itself. 2. High oil prices would spur the development of alternative energy resources and reduce the West's dependence on other, sometimes antagonistic countries. 3. The higher oil prices go, the more likely automakers will mass-produce more efficient, less pricey vehicles. 4. Reduce the amount and speed of highway traffic which should reduce the number of people killed in car accidents. Everyone knows at least one person that was killed in a car accident. Is it worth all those lives to support the kind of transportation that we have right now? 5. People would be encouraged to use bicycles or walk. That would benefit the environment and make people healthier. Higher oil prices are inevitable for a finite resource. America needs to be smart and make that price increase themself with higher gas taxes to force the switch away from oil. If the USA doesn't make that price increase to force usage in line with falling production, OPEC is going to do it for them. Wouldn't America rather have control of the money from the price increase for their own benefit? If Americans were smart, they would be voting for politicians who want to raise the price, not lower it. I don't know Cramer's reason to want higher oil prices but maybe he's not as dumb or crazy as I thought he was.
Ratings = $. 1. Cigarette prices have been rising exponentionally (here in Canada, anyway) yet people continue to buy them. 2. Yes. Wind, solar, etc. 3. Yes, but this takes time. In the development (YEARS) phase everyone would suffer. 4. Speed =/ Deaths. See: Autobahn. 5. People know that biking/walking (exercise) is good for them yet they continue to shy away from it. It's more of a lifestyle change then a 'well gas is too expensive' change.
The people might suffer a little in the transition but nothing like they would suffer if the worst predictions of global climate change takes place: http://www.sciencedaily.com/releases/2005/02/050223130549.htm
If you are in the media biz, you have no choice but to suck up to Cramer and kiss his ass. Look at all the thestreet.com morons, they all now have their 2 cents on CNBC every now and then.
And to counter that argument I found this information: http://www.kptv.com/gas-prices/14096244/detail.html
I hate that Cramerica crap too. What a rip-off of the Seinfeld episode where Kramer names his company Kramerica. lol... http://kramerica.tv/
Higher Oil causes a decrease in the marginal productivity of labor, which decreases labor demand, leading to an increase in the natural rate of unemployment. It also renders expansionary monetary and fiscal policy as useless. What confuses me is that Cramer is Harvard educated. Why is he deliberately stupid? BTW, higher oil is not the same thing as a gradual increase in govt. taxes on gas used to create grants for alternative energy research. we have higher oil prices, w/o a proportional increase in legitimate alternative energy research. There is no positive.