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If we all drove Prius's
Apr 04, 2007
9 Replies
There's an error in the first paragraph; the US consumption as part of world supply (from the source cited) is 20.8/84.6 = 24.5%, not 43%.
I believe that they have omitted the most important fact. If US oil consumption were reduced by that amount, the price of oil would drop back to $30 a barrel and even the Hummer drivers would be happy.
That's not fact. That's fiction.
I agree with you, Mark, but that is another topic that is likely to spawn an endless thread. I went through this same thing off-list a couple weeks back.
Mike (smiling and nodding)
You only have to look back to 1978 to see the oil prices going from $30 down to $12 due to a drop in demand.
Pardon my error. The crude oil price drop I was remembering occurred from $34 a barrel in '82 to $12 a barrel in '86. Amazing what a little conservation can do.
That was the recovery from a double price spike: the Arab oil embargo and middle east wars. The graph on
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shows it pretty well. Looking at the graph on
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we see petroleum production use was up slightly in that period. Petroleum use dropped in the early '80s, when prices were highest. Makes sense that way. Petroleum hasn't been free market since the foundation of OPEC.
Mike (forgot to smile and nod)
If we all drove Prius's we wouldn't be crushed to death by SUV's...
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If we all drove SUVs we wouldn't be crushed to death by Prius cars - that's logic for you! ;-) All vehicles are dangerous if misdirected.
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