What are the long term problems of high oil prices?

high oil prices= high food prices+high construction prices+high intrest rates


Simply it makes high inflation.


But it also focus in new energy saving market.What are the long term problems of high oil prices?
Since Oil is the primary supplier of fuel to the transportation sector of the world, high oil prices will lead to a reduction in goods and services being transported. As such, there will be a reduction in global trade. With reduce trade comes reduced economic growth.What are the long term problems of high oil prices?
we will learn a new lifestyle. It will affect all facets of life at some time soon. Vacation trips may be a thing of the past. The work week may be cut to 4 or less. School days may be cut to 4, but longer days. We may find the work day of 8 hours extended to 10 to pay for fuel. People with land will grow more crops themselves. It will get progressively worse. Almost like a weird sci-fi movie. People will hoard water and ammunition. Motorcycle sales will hit all time highs. Bicycles will jump in production and sales. Long commutes will get modified to tele-commuting for some. This is a novel in progress, so I 'll quit here.