I always thought that what regulated prices for the most part was supply and demand. If the demand for oil goes down, then the supply goes up and the price goes down, right? Well that's the way it works for most things. Seems not with oil prices though.
Since the price has been steadily increasing, with no increase in demand I might add, people have started to decrease their usage. Every pole I see says people are changing their driving habits. More and more people are getting rid of their gas guzzlers and the sales of hybrids and economy cars are increasing at record rates. The sales of scooters have increased about 25% this year. People are carpooling, riding bikes, and using public transportation more than ever before. There are businesses that are going to 4 day workweeks to cut down on commuting.
Our demand HAS to be dropping. People are using less gas. So why is the price still going up? It's very simple. We are being ripped off by OPEC, big oil companies and Wall Street. I don't see how they could be any more blatant about it.
It may just end up coming back to bite them though. By pushing the price so high so fast, it pushed people over the edge. They started a trend and now people are actively looking for ways to save gas. I think that people are going to get used to using less and even consider it a challenge and they're going to meet that challenge. The resentment and anger over this price gouging is growing fast and it's going to be the motivation to make people fight back.
That's exactly what we need to do too. Get angry and motivated to do something about it. Fight back.
I love it.
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