Discuss economics effects of higher oil prices upon u.s. housholds

The available stock of oil is exhausting day by day because of the increased and injudicious consumption of oil by the human. It is assumed that the worst problem the world may face in future could be the energy crisis. Because of the developments in science and technology and the subsequent advancements in industrial and automobile sector, the available stock of energy may not be sufficient for our future use. Most of the energy sources we are using at present are nonrenewable ones and oil is also a nonrenewable energy source. It is estimated that the available stock of oil may be sufficient enough for thirty or forty years more, if the automobile industry develops in the current rate. Because of the increased demand and shortage of supply oil prices are increasing or fluctuating