http://dagblog.com/link/peak-oil-review-aug-22-11386 Comments for "Peak Oil Review Aug 22" en http://dagblog.com/comment/132412#comment-132412 <a id="comment-132412"></a> <p><em>In reply to <a href="http://dagblog.com/link/peak-oil-review-aug-22-11386">Peak Oil Review Aug 22</a></em></p> <div class="field field-name-comment-body field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"><p>Excellent reading material, as usual!</p> <p>You know, when Bachmann said this past week, when she is elected President, she is going to make it her top priority to get gas prices back under $2 a gallon, and a lot of people laughed and said there was no way that could happen given the demand for oil on the markets.</p> <p>However ...</p> <p>The price of a gallon of gas is based on the demand against what is available to satisfy that demand. When the demand for oil is greater that what is available, the price shoots up. But if what the market has available is greater that what is demanded, the price drops.</p> <p>So for Bachmann's promise to get gas prices below $2 a gallon would mean she would have to cut the public's demand drastically. The easiest way to accomplish that in the short term would be for massive lay-offs. People out of work aren't driving so demand drops. And the longer they're out of work, the better chances of the price at the pump dropping and staying there.</p> <p>So she can keep her promise, but I'm not sure she realizes what it's going to cost her in the long run.</p> </div></div></div> Mon, 22 Aug 2011 22:05:21 +0000 Beetlejuice comment 132412 at http://dagblog.com