Study: Gas will soon be at $10/gallon

This is not about supply and demand anymore.

 

Yeah - people would buy smaller, more economical cars, walk more, cycle more, and there'd be more incentive to build good mass transit. Hardly the end of the world, and it would have some nice side effects: less SUVs, less road accidents, healthier population, less heart attacks, less fat chicks, less pollution, regeneration of urban centres, reduction in suburban sprawl.

 

What's the big deal? I pay that much for a cup of coffee. Shouldn't a gallon of gas cost more?

 

Im not telling you what I THINK is happening, I'm talking about what is actually happening..at least in this area to a lot of people, and it has nothing to do with being lazy (at least physically).

 

$10 gas, hmmm

I doubt it anytime soon however im sure many would find a way for this to be bullish for an already slowing economy.....

 

Gas consumption Europe vs. U.S. There is some evidence Europe's high gas taxes have capped its oil consumption.

Oil use in the United Kingdom has basically stayed flat from 1980 to now, while in France it's dropped 17%, according to figures from the Energy Information Administration.

In the U.S., meanwhile, oil use is up 21% over the same period, although the country has added more people and seen its economy grow slightly faster.

Americans have taken advantage of cheap gas prices to do other things - like buy bigger cars and bigger houses further away from city centers, said Schipper.

On a per capita basis, Americans use three times more oil than Europeans, he said. That means Americans are more exposed to rising gas prices than their counterparts across the Atlantic.

"Five-thousand square feet in the suburbs, that's much rarer in Europe," said Schipper, referring to big homes. "We dug our hole."

 

Can't wait for $10 / gallon gas - now my commute to work will take 1/2 the time - everyone will be taking mass transit


But yes - $10 gallon gas will kill the economy because transportation / shipping costs are built into almost every good - be prepared for price spikes across the board

 

"Mom doesn't work because gas is nearly 4 bucks a gallon."

That's a great example to set your kids.

 

I agree. Hard to understand why people are so scared of this; maybe because most of them are fat and lazy.

 

Well, if your in a small town and the jobs are 40 to 50 miles a way, one way, and your only making $5 to $7 an hour, and thats a "good" job, what would you do? I'm not stating this as a moral judgment, its a fact, its happening.