A Quote by James Surowiecki
Unlike fuel-economy standards, the most common method of reducing demand for oil over the past thirty years, a gas tax doesn't tell people what kind of car to drive. It simply raises the price of gasoline and lets people adjust their behavior accordingly.
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I do believe that oil production globally has peaked at 85 million barrels. And I've been very vocal about it. And what happens? The demand continues to rise. The only way you can possibly kill demand is with price. So the price of oil, gasoline, has to go up to kill the demand. Otherwise, keep the price down, the demand rises.
About 75% of the price of gas is really dictated by crude oil. At the heart of the issue is increasing demand over a period of many years around the world. World crude oil consumption now is close to 90 million barrels a day. Most of the growth in demand is coming from China and the developing world.
I don't see a groundswell of people willing to raise gas taxes right now. That leaves fuel economy standards as the only effective tool we have as a nation to make a dent in our dangerous and ever growing consumption of oil.
Russia's economy is both cursed and blessed by oil. When the oil price goes up, there is a tremendous 'wealth effect' spilling over into all corners of the economy, but this diminishes the drive to develop other industries to diversify away from overreliance on oil.
People who are running for office mislead the American people by saying that there's a three-point plan or a bumper sticker kind of way of bringing down gasoline prices. The fact of the matter is that nobody can do that. The price of oil is set on the global economy. People who have looked at this closely and hard know that's the case.
We need more expensive gasoline to change consumer behavior," Mr. Jackson said. Otherwise, Americans will continue to favor big vehicles, not matter what kind of fuel-economy standards the government imposes on auto makers. Four dollars a gallon, he added, "is a good start.
The U.S. uses most of its oil for transportation. We can limit U.S. demand for oil by requiring automakers to use the technology that already exists to improve fuel economy - technology that the automakers refuse to bring into the market despite societal demand.
Like any business, the oil industry runs on the basic premise of supply and demand. The more supply - the lower the price. The higher the demand - the higher price. In other words, the more people who can buy oil, the higher the price of oil.
A variety of factors contribute to the price of gasoline in the United States. These factors include worldwide supply, demand and competition for crude oil, taxes, regional differences in access to gasoline supplies and environmental regulations.
A variety of factors contribute to the price of gasoline in the United States. These factors include worldwide supply, demand and competition for crude oil, taxes, regional differences in access to gasoline supplies and environmental regulations
The price of crude oil accounts for 55 percent of the price of a gallon of gasoline, driven by global supply and demand. The United States depends on foreign sources of oil for 62 percent of our nation's supply. By 2010, this is projected to jump to 75 percent.
Simply raising fuel economy standards for passenger cars and light trucks to 33 miles per gallon would eliminate our oil imports from the Persian Gulf.
So on the demand side [for energy], there have been a variety of policies that globally have been way over $50 billion a year of tax credits, raising the price of electricity through things like renewable portfolio standards, so the total amount of money that's gone into sending a price signal to push up demand versus what would happen without it has been gigantic.
The way one behaves and feels as a Dutchman and Dutchwoman is the result of a long development. It is by no means 'the natural way' or 'the human way' of behaving, it is a particular code of behavior which has developed over the years. And these people, the immigrant people, come from a group where different standards of conduct and behavior have developed. What clashes are these two standards of conduct and behavior.
Almost all of the demand for oil that suddenly pushed prices up was speculative demand. People began to speculate not only in stocks and bonds and real estate, but also in commodities. The market went up for old tankers, which were used simply to store oil in. A lot of the oil was simply being stored for trading, not used.
What I've seen around the world is if the regulatory desires are combined with things that affect consumer behavior - such as in Europe, they tax gasoline very heavily - you do get people to move to very fuel efficient cars; trade off bigger vs. smaller cars.
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