What I learned in Economics 101 and Gas Prices…

Everyone is reeling by the soaring costs of gas, and we should. Gas affects the cost of almost every product we buy which affects our bottom dollar! But I just received a forward from an acquaintance about a September 1st boycott on gas, to bring the prices down… and overall that works with the supply and demand theory proposed in Economics 101… but the demand is just going to go back up the next day or the day before and it may even be higher! So if no one buys gas on September 1st, as long as they drive their car like any normal day it really doesn’t change the supply or the demand of gas over the next week or two!

If people are really that upset about the price of gas and want to help bring the price down, then the “demand” for gas needs to change over the long run, not just one single day… The easiest way is use different transportation that requires less gasoline… public transportation, car pooling, biking, walking, or trading in your 10 mpg SUV for a hybrid…

It sucks, but the only way without increasing our supply is to bring the demand down…

Sorry, had to get on my soapbox… I don’t appreciate forwards like that too much, can you tell? Tomorrow’s lesson… how to determine if an email is really worth forwarding to everyone you know?

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