What's with all the "government save us" cries?
Remember Eco 101? Price elasticity? If you reduce consumption, producers will reduce production to keep prices @ equilibrium. An equilibrium the "producers" like and dictate. So no matter what, prices will stay high. Simply because oil has no viable competition.
The only short term hope is for Oil producers to flood the market with an extra 20% BPD. All else is artificial; like a repeal of certain gas taxes or mandating higher EPA's.
Long term hope comes in the form of viable competition from alternative fuels. And Hybrids won't cut it.
Remember Eco 101? Price elasticity? If you reduce consumption, producers will reduce production to keep prices @ equilibrium. An equilibrium the "producers" like and dictate. So no matter what, prices will stay high. Simply because oil has no viable competition.
The only short term hope is for Oil producers to flood the market with an extra 20% BPD. All else is artificial; like a repeal of certain gas taxes or mandating higher EPA's.
Long term hope comes in the form of viable competition from alternative fuels. And Hybrids won't cut it.