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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (386691)5/27/2008 8:02:41 PM
From: tejek  Read Replies (1) of 1576177
 
However, realistically, if every household in the country did what you've done, it would not make a tiny dent in the price of oil.

The price of oil is controlled, essentially, by the supply provided by the cartel. And nothing you or I can do will help change it, unless we can stop driving, and the cartel chooses not to drop supply by an equivalent amount.

That is an extremely myopic conclusion. The oil countries have become very accustomed to high oil prices and the revenues it produces for their countries. You cut back usage.....the price of crude will go down. To make up the loss of revenue, the oil countries will produce more which should cause the price of crude to drop further. While we are nearing peak oil, most professionals think we are not there yet. That means supply and more importantly, DEMAND play an important role in the price of crude.
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