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@SaveMeJeebus: The invisible hand of the free market exists in the absence of collusion and monopolies. OPEC is an example of collusion. Comcast is an example of a monopoly (in most areas). When companies are allowed to corner a market, the invisible hand "disappears."
Yep, only drive to work and back and mix errands in to/from work trips. I drive a good-mileage VW hatchback but the fact that half my driving is in the city still kills it. I can afford to use more gas but I choose not to at these prices, and being eco-minded I'd rather not be generating more pollution anyway. I will go on the occasional fun drive in the spring/fall, but not as much as I once did.
I'd be using the local light rail if getting to/from stations wasn't a hassle.
@sleze69: Uh, no...not quite correct. That "invisible hand" is then picking your pockets.
Have you seen your wallet lately?
I haven't changed driving habits at all. I can't, really, since I have a 35-mile one-way commute Monday-Friday. I did, however, start setting cruise control more often. The other day I averaged 34.3mpg @ 63.something mph in my 2003 BMW 330i that just cleared 101k miles.
I've budgeted a certain amount towards gas, and thus far have remained well within the budget. Seeing 89 octane go for $3.23/gallon here in Arizona is annoying, though, considering last month it was $2.98ish.
I actually have changed my driving habits.
Currently im unemployed so no work gas usage. But my girlfriend lives ~20 miles one way. My car is a V6 which gets 21~29 on the freeway. So it uses about 2 gallons round trip which is about 7 bucks here in So Cali.
What we have begun doing is taking the L.A. Metro train back and forth to each others houses. One of the trains ends in both of our cities, and costs $2.50 round trip. It runs on electricty and holds alot of people at once. So its good for the environment, alot of times faster than the freeway, and its 1/3 the price to go see her.
Price goes too high, demand will slow down, price will come down. That said there is a huge war-risk premium built into the price right now - mostly due to tensions with Iran.
Also, as the US economy slows, there will be a big knock-on effect on places like China and, to a lesser degree, India - which 2 countries have been the big engine in enegry demand growth this decade. I don't think we'll ever see $20 oil again but $40 is not out of the question.









Yes. Netflix and microwave popcorn FTW.