wow, oil inventories down 8.8M
- Thread starter S2007S
- Start date
Who says the US can't adjust? If gasoline goes to $15 a gallon who says people can't move closer to their jobs instead of traveling two hours in the car twice a day?
What ever happened to efficient allocation and an economic equilibrium? I guess basic economic theory won't apply with crude oil and the US economy?
Europe is much different (as is most of Asia and other parts of the world). The availability of public transportation or good ol' walking/bicycling is an option for many. In the U.S., many live 20+ miles from their workplace. Public transportation isn't available, and it would take a huge, long-term costly effort to develop trains or subways for much of America.
A lot of people point fingers at the lack of public transportation in the U.S., but it just hasn't been realistic since the age of the automobile and (mostly) cheap gasoline...not to mention the huge land mass that is the U.S.
Imagine what it would take to make public trans readily available for just Texas alone?
A lot of people point fingers at the lack of public transportation in the U.S., but it just hasn't been realistic since the age of the automobile and (mostly) cheap gasoline...not to mention the huge land mass that is the U.S.
Imagine what it would take to make public trans readily available for just Texas alone?
Patently false. Show me a mutli-year rally that's taken place since 1973 (when the age of OPEC and oil woes began). It's no coincidence that the "cheap oil" years of the early 80s to late 90s comprised the biggest stock bull run in history...or the lackluster performance of stocks in the 70s and the last few years as oil hits new highs.
Academic studies have proven this, too.
Academic studies have proven this, too.