Comment 31328

By A Smith (anonymous) | Posted May 27, 2009 at 17:34:57

Ryan >> They send clear and consistent market signals to both manufacturers and consumers to choose efficiency.

Market signals are those that come from the market, not government.

>> Europeans, who drive nearly as much as North Americans but use only half the fuel to do it.

If owning a small car is a net benefit to consumers, why does it take artificially high gas prices to convince people?

>> Since oil is central to our economy, a dramatic super-spike in oil prices brings supply and demand into balance by destroying demand

Oil is not central to our economy, people are. That's why Japan, Hong Kong and Singapore are richer than Nigeria or Saudi Arabia. Good ideas are what drive productivity gains, not ever rising consumption of oil products. Take a look at this link for more info...

www.eia.doe.gov/emeu/mer/pdf/pages/sec1_16.pdf

From 2003-08, US GDP grew from 10.3B to 11.652B, an increase of 13.11%. However, during this same time period, total energy consumption only grew 1.09%. If oil is central to our economy, why isn't it reflected in the actual numbers?

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