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View Diary: Countdown to $100 oil (40) - Oil production plateauing (198 comments)

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  •  Why does that surprise you? (1+ / 0-)
    Recommended by:
    redlami

    The reality is that most of the demand for gasoline and other oil is very inelastic.  If you own a Surburban to haul your kids around in and you still have to go to work every day, then you'll pay whatever they ask you to pay.  What choice do you have?

    Over time, people can change behaviors to lower demand, but it takes a long time.  Small decreases can come about by buying new cars, etc.  But if you still live in the middle of nowhere, you'll still have to drive a lot.  

    If tomorrow, gas prices went up to $10/gallon and you had no way to get to work other than driving, would you pay it?  Yup.  You might try to find other ways to economize, but if you have to get to work, you have to get to work.

    Maybe some people will be able to telecommute, and find other options, but the truth is that demand for oil is something difficult for us to get over.

    •  i think i agree (0+ / 0-)

      i mean perhaps some people will see the light and move back into cities.

      For some reason I don't see that happening where I live, though....a lot of "those people live there" type of thinking around here.

      But I do see it happening in other places though.

      all Along the Watchtower...... blogroll

      by terrypinder on Mon May 14, 2007 at 10:16:54 AM PDT

      [ Parent ]

      •  Seeing the light... (0+ / 0-)

        That's a theory, but there's a very good reason those people don't live in the city in the first place: too damn expensive.  

        Now, I grant that part of this is that people need to get over their need for space and learn to economize.  But beyond that, even small places to live in the city are expensive.  So even if gas costs you a lot, it may ultimately be cheaper than moving into the city.

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