[Chuck54]

I've always contended when a certain price for gasoline is reached a tipping point would occur. People would just say, enough is enough, and quit pleasure driving, become very conservative, walk short distances, buy a bicycle, etc and supplies would increase, therefore driving down prices.

I didn't have an exact price in mind, but the past week indicates it may be the $3.00 per gallon price. Could be lower but time will tell.

The exciting part of this is the oil cartel may be shooting themselves in the foot with the high prices and the public may enjoy walking, biking, less driving etc. Hope so.

[cantfindagoodscreenname]

I've always contended when a certain price for gasoline is reached a tipping point would occur. People would just say, enough is enough, and quit pleasure driving, become very conservative, walk short distances, buy a bicycle, etc and supplies would increase, therefore driving down prices.

But, if the oil companies respond by lowering prices and then people resume their old driving habits, won't the prices just go right back up again?

[COBOL2Java]

Fairly good primer on the economic concept of elasticity: ELASTICITY. Gasoline demand tends to be inelastic, but if as you say people discover adequate substitutes for driving, that may change.

[quantfive]

"I didn't have an exact price in mind, but the past week indicates it may be the $3.00 per gallon price. Could be lower but time will tell."

I think your right about that price. $2.25 didn't break the bank of people but $3.40 and up sure did! If the American consumer can sustain $2.25 we should move to biofuels now.

[14erClimb]

I bought a bicycle Friday and have been riding 21 miles to work this week. If only more people would do the same and drive demand down...

[fuquadukie]

I've always contended when a certain price for gasoline is reached a tipping point would occur. People would just say, enough is enough, and quit pleasure driving, become very conservative, walk short distances, buy a bicycle multiple cases of beer at a time, etc and supplies would increase, therefore driving down prices.

That's going to be MY solution to higher gas prices.