[shortonoil]

LastViking said:

$this->bbcode_second_pass_quote('', 'Y')es, we know. Someone has reminded us almost every day since the Spring 2001. But, thank you anyway...

[eastbay]

We really don't know where destruction will show up or at what price threshold. But, your POV that it will be american drivers has very poor foundations based on the recent quadrupling of oil prices.

LV,

I don't recall mentioning anything about 'American roads.' I mentioned, 'cars parked in driveways and along roads', to mean 'everywhere.' I could have been clearer (as usual), but certainly didn't mean to suggest less car use would only occur in the USA or solely in any other country which, of course, is ridiculous.

Less car use will be happening everywhere... AKA: demand destruction... or 'theoretical demand unmet', if you prefer to get fancy.

[eastbay]

Actually it was more than a 'quadrupling... it was more like a nine fold increase... but regardless, it reminds me of the camel whose load was increased by a factor of four yet he continued walking as if no weight had been added.

Some might therefore that since there was no ill effect from a quadrupling, therefore more weight can be added onto the camel indefinitely.

We'll soon find out how much our camel can hold.

[dinopello]

$this->bbcode_second_pass_quote('Starvid', 'O')il demand is very inelastic in the short term, but rather elastic in the longer term.

[yesplease]

$this->bbcode_second_pass_quote('eastbay', 'H')ere's how I envision theoretical demand exceeding actual supply from a simple non-economist and lay perspective:

10 cars; gas for 8.

Is that helpful?

[shortonoil]

LastViking said:

$this->bbcode_second_pass_quote('', 'E')nergy is about 4% of the CPI.

[LastViking]

$this->bbcode_second_pass_quote('shortonoil', '[')b]LastViking said:

$this->bbcode_second_pass_quote('', 'E')nergy is about 4% of the CPI.

[shortonoil]

LastViking said:

$this->bbcode_second_pass_quote('', 'S')orry, but CPI has no correlation with GDP.

[eastbay]

Air has no correlation with breathing.

[shortonoil]

eastbay said:

$this->bbcode_second_pass_quote('', 'A')ir has no correlation with breathing.

[LastViking]

$this->bbcode_second_pass_quote('shortonoil', '[')b]LastViking said:

$this->bbcode_second_pass_quote('', 'S')orry, but CPI has no correlation with GDP.