This isn’t 1979. There is no shortage of fuel. Russian oil is about 10% of US consumption. The price rise is due mainly to speculation. We shouldn’t be taking coercive steps to keep gas cheap. We should be thinking about how to rebuild our economy to not use fossil fuels for transport like it’s still 1960.
[quote=spdrun]This isn’t 1979. There is no shortage of fuel. Russian oil is about 10% of US consumption. The price rise is due mainly to speculation. We shouldn’t be taking coercive steps to keep gas cheap. We should be thinking about how to rebuild our economy to not use fossil fuels for transport like it’s still 1960.[/quote]
My wife asked me last weekend why gas had went up so much recently – I didn’t have a good answer.
And actually, the earth had more oil in 1979 than it does now as we’ve been burning more of the reserves over the last 43 years.
Part of me wonders if the oil industry sees the giant drop in demand coming so they are milking us for as much as they can now. While they still have a lil leverage.
