Archive of UserLand's first discussion group, started October 5, 1998.
Re: Oil Gas Prices -- What's The Reason?
Author: Nick Sweeney Posted: 3/17/2000; 9:05:22 PM Topic: Oil Gas Prices -- What's The Reason? Msg #: 15619 (In response to 15609) Prev/Next: 15618 / 15620 OK, so oil prices are kinda high here in the Bay Area (the cheapest I'm able to get is $1.799 per gallon for 87 Octane) and I hear it's expensive elsewhere too.Such as most of Europe, where prices range somewhere between $4 and $5 a gallon. But that's by-the-bye. The US Energy Secretary summed it up: the world uses 36 million barrels of oil a day, but only 34 million are being "produced" each day, due primarily to OPEC's production quotas. Shortfall creates demand; demand increases prices. If you're a "hostage" to anything, it's capitalism.
The reason I mention Europe, is that we've adapted to higher fuel prices. Smaller, more fuel-efficient cars make sense in that kind of economy: it's a maxim that could apply across the board. Cut the fat. Adapt.
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