[Willie Green]

Never mind that the current price makes some extraction methods feasible. Never mind that the current price makes alternative energy feasible. Never mind that the creative juices of the free market will never let the price of any commodity go to the moon and stay there.

"Pay no attention to the man behind the curtain."

~ The Wizard of Oz

Same old crap...
The Fed cranks up the printing presses to churn out more worthless paper,
allowing you to claim that $25/gallon gas is "cheaper" when adjusted for inflation.

Where have we heard this before?

[Snardius]

Where have we heard this before?

Peering through the fog of my memory I remember something mentioned about this in Econ 101, or was it Real Life 302...:)

The fact of the matter is that if the price of a commodity reaches the point where it is prohibitive for the masses to consume the commodity, they will reduce their consumption, thereby reducing demand, thereby reducing the price of the commodity.

At the same time, the high price of the commodity encourages speculators to find more of it to sell at the high price. Greater supply + Lower Demand = Lower Price.

Simulaneously, the prohibitively high price of the commodity encourages the entrepreneur to invent/develop an alternative to the high priced commodity which performs the same function but at a lower price shifting demand to the alternative commodity. Lower Demand = Lower Price.

These forces are currently at work on the price of crude oil/gasoline. IF the price stays up long enough for speculators to find more supply and/or entrepreneurs to successfully develop alternatives to gasoline, the price of crude oil and gas could plummet.

On the other hand...I could be wrong.