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Originally Posted by wheresmy50
People will buy smaller cars, then the price of oil will go down, then people will forget and buy larger cars again. We've played this game before.
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Not really, before when there have been shortages there's always been production to get us out of the bad cycle. Even if you don't believe in peak oil theory most experts do seem to agree that there's not enough "easy oil" left to keep production up with rising demand. Add to that global instability and we have a real problem.
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Maybe it's just my skewed perception, but it seems like this site is extremely negative - especially concerning any national issues. The health of the economy cannot be gauged by the price of gas. Gas is expensive - both because oil is priced in dollars, and because the continually lowering prime interest rate is causing foreigners to invest in oil futures instead of dollars. All bubbles burst.
We're still not paying as much for energy as people did in 1982.
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I think people are just being realistic, rather than buy into the fake optimism you hear from Rush and his ilk. They seem to view pessimism as a liberal trait and avoid being seen with it at all costs, tossing realistic analysis aside.
While not in the gutter, our economy right now is not in a good way and there's potential for some serious problems over the next few years. It's not just about a "bubble", we're finally being forced to confront the realities of this centuries global economy and it would seem that many want to fight it all along the way. Simply insisting America is the best so don't worry is a foolish way to keep our leadership position in place.
-spence