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Re: Re: Gas out days
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Posted by bo on May 25, 2004 at 17:21:23 from (12.75.107.108):
In Reply to: Re: Gas out days posted by paul on May 25, 2004 at 09:56:55:
Won't come down if demand drops. First, demand won't drop enough. Too much wealth in this country. Secondly, gas is priced on a cost plus basis and not on a competitive basis. It competes with nothing. So..if it's not a competitive, substitutable product and demand won't drop appreciably, prices stay up or stay constant. Only saving grace is that Saudi Arabia has decided to boost production of oil by 2 million gals/day and that might, might have a depressing pressure on gas. You also need to factor in the international demand for oil, in particular, China. They're a developing economy and are presently becoming one of the biggest importers of oil. When that country with one billion people get fired up and they all get roads and cars..$2/gal will seem like a major bargain.
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