High Gas Prices To Help The Tech Industry?

from the all-depends dept

We've already talked about how high gas prices may be pushing more people to shop online and to telecommute, but what about its overall impact on the tech industry? Some are saying that it's actually going to be a huge boost. There are a few reasons for this. First, the tech industry doesn't rely on oil/gas nearly as much as many other industries. That's not to say there isn't some reliance on it, but it's not as important. Second, as mentioned above, it could push for more telecommuting and online shopping, both of which can help tech companies. In general, technology can often be used in ways that help people avoid traveling -- and if gas prices make people not want to travel, that can clearly be a boost. Of course, thinking even farther out, high gas prices could help the tech industry by generating more interest in alternative engine technology as well.
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  1. identicon
    clouser, 19 Sep 2005 @ 3:23pm

    Re: EU tech sucks?

    Not at all does it such.

    SAP, Skype, SQL are others...

    And what about biotech (Sweden)?

    The four biggest firms are there: Novartis, Roche, Syngeta, and Lonza. Plus another 200 innovative, up and coming dedicated biotechnology firms (DBF's).

    Europe is advancing rapidly too in terms of innovation and new firm development.

    I don't think there is a correlation between fuel prices and innovation.

    I believe the best thing that can happen to the country right now is to see increasingly high gas prices. While this will push the US into a recession (not good for tech) it may increase public pressure on the government to increase the amount of R & D for alternative energy research (good for tech). (I am certain there is a breakthrough innovation -- a really disruptive technology -- out there waiting to be created -- but first we need lotsa research and lotsa research funding). This will lead to alternative energy innovations, and help move the country away from a reliance on oil.

    Then we can curtail this current upward trend of trading blood for oil. It will only get worse if we don't -- despite the rhetoric, the troops are not going anywhere and look for more and more of our young men and women to be sent to the middle east to shed their blood so we can drive our SUV's. Unfortunately America's political structure and system is too short-sighted and motivated for the short-term to change it otherwise. But in this case, technology is politics.

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