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Saudi Prince Al-Waleed bin Talal  (Source: Forbes)
Saudi Prince Al-Waleed bin Talal wants oil prices in the $70 to $80/barrel range

Gas prices in the United States have been taking a decidedly downward turn in the past month (down 20 cents in three weeks from a national average of $3.97 per gallon to the current $3.78 per gallon). However, gas prices are still much higher than a year ago when the national average was $2.74 per gallon according to GasBuddy.

There are some that are calling for lower oil prices to help ease prices for consumers, and those calls are coming from an unlikely source. Saudi Prince Al-Waleed bin Talal, whose country is one of the founding members of OPEC, wants to see oil prices drop dramatically. In fact, Talal wants to see prices fall down to roughly $70 to $80 per barrel (current prices are hovering around $100 per barrel).

Talal's reasoning for wanting lower prices comes from an increasing interest from countries like the United States and global auto manufacturers to develop vehicles that don't require gasoline or diesel fuel to operate. 

"We don't want the West to go and find alternatives," said Talal in an interview with CNN's Fareed Zakaria. "Because, clearly, the higher the price of oil goes, the more they have incentives to go and find alternatives."

President Obama is pushing for federal agencies to ditch large, fuel hungry vehicles like Suburbans and Tahoes for more fuel-efficient compact and subcompact cars wherever possible. The U.S. government fleet is also taking baby steps with purchases of the all-electric Nissan Leaf and the partial electric vehicles like the Chevrolet Volt.

And for the full-size SUVs that are still needed in the government fleet, the Obama Administration wants increased use of E85 fuel that would further lessen our dependence on foreign oil sources to sustain our transportation needs. 

The overarching goal, however, is for automakers to develop vehicles that can travel much further on a gallon of gasoline, boosting CAFE averages to 35.5 mpg by 2016. This move will come by manufacturers producing more vehicles that achieve 40 mpg or higher, and by stepping up the efforts with electric vehicles like the Ford Focus Electric and the Tesla Model S

So it should come as no surprise that Talal doesn't want to see the U.S. gravy train come to an end.  If everyone is driving around in 50-mpg vehicles, there will be less of a need for foreign oil. If everyone is driving around in electric vehicles, well OPEC is in serious trouble. 

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I'm intrigued to know.....
By jabber on 5/30/2011 2:28:14 PM , Rating: 2
I often visit the US and Canada. On my travels I see many high powered F150/250/350/Dodge Ram type trucks all with their whopping V6/V8 engines. Mighty impressive they are.

Why do folks need them? You see why I ask is, that whenever I see a truck over there....'s bed is always empty.

Ok I tell a lie, I have seen a garden rake in there a few times (and maybe a dog) but thats a lot of HP to cart a garden tool around isnt it?

Why would you need a truck to cart say bricks around? Why not just call the building material suppliers and get them to deliver them on a pallet with a proper flatbed and unload them with the crane in one go. Much quicker and easier. Job done.

RE: I'm intrigued to know.....
By Brandon Hill on 5/30/2011 2:48:02 PM , Rating: 2
Some people just like big vehicles. They like the "added room". Also, some Americans are just fatasses and can't fit in anything else :)

That being said, my dad has a hulking full-size pickup: a 2008 Nissan Titan Crew Cab Long Bed 4x4. It's like a friggin' aircraft carrier. It looks like this one, only his is silver:

Quit frankly, he doesn't need or even use all of the space it has, and he bought it when gas was cheap. He uses it to tow a trailer for my old Boy Scout troop every once in a while, but it sits in the back yard most of the time (he has a '02 Toyota Highlander as his daily driver).

But, whatever floats his boat. I've been trying to get him to sell both vehicles and consolidate on a newer crossover (something like a Chevrolet Traverse or a Mazda CX-9), but he's too stubborn.

RE: I'm intrigued to know.....
By YashBudini on 5/30/2011 3:10:01 PM , Rating: 3
Quit frankly, he doesn't need or even use all of the space it has

And yet when others suggest such a scenario they are always voted down.

but he's too stubborn.

Luckily that's a really rare human trait.

RE: I'm intrigued to know.....
By Spuke on 6/1/2011 2:14:36 PM , Rating: 1
And yet when others suggest such a scenario they are always voted down.
Because Brandon isn't a fascist asshole. Not saying you are BTW but most people making these umm suggestions sure fit into that category.

RE: I'm intrigued to know.....
By DerekZ06 on 5/30/2011 3:11:01 PM , Rating: 3
I'm an owner of one of these trucks. I maybe pull a trailer 300miles out of the yearly 14,000. The bed has something in it for maybe 800miles out of the 14,000. But now when I need it I need to have that functionality. Therefor I get a pickup as my daily driver.

The biggest thing is that it's cheaper to pay to fuel it up than to purchase and maintain two vehicles, one being a small car.

Second is that I drive 5,000miles a year on gravel, lots of times in poor wet conditions. We have an AWD Astro minivan that still has managed to get stuck 3 times this year all ready. The truck has yet to get stuck. A car also could not make it in a nebraska winter, which is probably about 7,000 miles out of the year.

3rd, I like the height and durability of the truck. I probably would have totaled a car 2 times over in 3 years by bottoming out on those roads or knocking the bumper off somehow. The truck can take this abuse as it has 11 inches ride height. That van only has 5 which is it's main problem, ive already collapsed the exhaust and ruined the front bumper. The roads in my area just don't allow for one of these street machines.

RE: I'm intrigued to know.....
By Jeffk464 on 5/30/2011 4:44:55 PM , Rating: 2
So get a Tacoma.

RE: I'm intrigued to know.....
By GruntboyX on 5/30/2011 9:21:46 PM , Rating: 2
it does about the same. The Tacoma doesnt get anywhere near its highway rated gas milage. Additionally, its not the Hi-lux version that Europe enjoys. Its been "car-afied" The suspension doesnt take the abuse and as such doesnt tow as well.

F150 gets you 18-22 MPG depending on configuration. Tacoma lists for 23. But, doesn't tow nearly as well through personal experience I get 17 to 20 if lucky, and due to lack of torque, its gas milage varies greatly. Add in the fact that a tacoma is way overpriced for its capability; for same price I can get a vehicle that does more.

Oh the 4cycl tacoma that you may be thinking about doesnt have the towing capability nor the ground clearance of the bigger trucks. Its super skinny bicycle tires also make it perfect for getting stuck. Perfect for the Suburbanized, hardly a work truck. They do last a while though!

RE: I'm intrigued to know.....
By Jeffk464 on 5/30/2011 10:48:20 PM , Rating: 2
Yeah the new ford V6 does pretty amazing, it would be nice to see Toyota do direct injection and maybe add a gear. Its got about a 1500lbs weight advantage. I managed to get 24mpg driving LA to Phoenix with cruise set at about 63mph. I pumped my tires to 30psi and have a decklid on my bed. I can average 19mpg if there is not ethanol in the fuel and I pay attention to my driving habits.

RE: I'm intrigued to know.....
By DerekZ06 on 5/30/2011 10:57:09 PM , Rating: 2
1. Not as big as an F150
2. Not as powerful as an F150.
3. Gets marginally better fuel economy.

4. Towing is not good enough. The trailer in tow is a 18foot enclosed. And even tho I only tow it 300 miles yearly in the city. We have used it on vacations with 1000's of miles. Last year we towed 1000 miles through the Colorado mountains. Tacoma will not be up to that task. Hell even the F150 lost speed and many times had to cling to 1st gear at 5000rpms and 40mph to go over the hills. If anything my next general purpose vehicle will be bigger.

5. Not worth trading for. I already have this truck and I don't have tons of cash to just be switching vehicles all the time. I can afford one vehicle so it needs to be all purpose. The 2003 F150 gives that and has never had trouble, most reliable vehicle owned. I could get a new truck that gets 20+mpg but I'm loosing money because that truck may cost 40grand.

6. The manufacturing of that new vehicle and the early retirement of mine will probably pollute more all together if that's what your worried about.

7. I forgot to mention this earlier. But there just isn't space for a fuel efficient car in addition to the truck, and we need the van with seating for 7. Theres just not room for 3 vehicles.

** Many other people probably are in the same boat and is why they made their decision to have a truck even if they may not use it for truck duties. You have to understand where they are coming from before you pass judgment.

RE: I'm intrigued to know.....
By Spuke on 6/1/2011 2:31:30 PM , Rating: 2
You have to understand where they are coming from before you pass judgment.
Nope, it's easier just to pass judgment. I have a 06 F250 diesel. Currently my wifes daily driver. We also use it haul hay every other week (7 bales a pop), once a month tow a 8200 lb 5th wheel trailer (about 600 to 800 miles), and to tow a 2500 lb horse trailer (200-300 miles) whenever my wife wants go riding (anywhere from 2 to 12 times a month). Next year we're going to get another car for her to commute in and for us to do long trips in (don't always need the extra room of the truck). Even with high gas prices, it doesn't make any financial sense to buy another car now. The only reason why were doing it is my car will be paid off at the end of this year. I DO think it's a little retarded to have three cars for two people but it WILL save us some money in fuel and maintenance costs.

RE: I'm intrigued to know.....
By rudy on 5/30/2011 10:58:24 PM , Rating: 2
Because in the US gas and vehicles have been cheap for years. But one thing has not been cheap, that is labor. This is why we are so heavily industrialized. Lots of people also own very expensive tool sets. You ask why not just hire someone to fix the door or build the porch. Well it is all the same it is about about the ability to do what you need when you need.

The only way that will ever change is if 1 of 2 things or both happen. Either personal wages start coming down heavily so people can no longer afford large powerful vehicles or gas prices go way up doing the same.

I mean people from out of the US look at it as wasteful but then again when I have been to any other country they all want the stuff we have. Most are unwilling to admit it, but you see them moving toward that those who can afford it anyway.

We will probably see a long term correction to our behavior and I am not saying what we do is right but all human populations will do it given the chance.

RE: I'm intrigued to know.....
By kattanna on 5/31/2011 3:22:00 PM , Rating: 2
quote:'s bed is always empty.

im betting your car has a trunk, is it always full? if not.. then why did you get a car with a trunk if your not using it everyday?

RE: I'm intrigued to know.....
By jabber on 6/1/2011 8:19:39 AM , Rating: 1
Actually it has two large bags of computing gear (routers/cables/external HDDs etc)that I use for work. They stay in there 95% of the time.

Its a trunk with about 2.5 cubic feet of space that fits my needs perfectly so yes I did buy what I actually needed rather than what my penis was telling me.

RE: I'm intrigued to know.....
By Spuke on 6/1/2011 2:33:16 PM , Rating: 3
Its a trunk with about 2.5 cubic feet of space that fits my needs perfectly so yes I did buy what I actually needed rather than what my penis was telling me.
So everyone buying a car bigger than yours buys it because of their penis telling them to? No other reason right?

China ... yes US please use less ! Thank you.
By armageddon51 on 5/30/2011 8:53:57 AM , Rating: 2
Is that come at a surprise ? Don`t worry Saudis, Asia will be more then happy to pickup the left over.

By gorehound on 5/30/2011 9:12:43 AM , Rating: 2
the quicker no one uses middle east oil the better.
would be a decent world with no arab oil at all.

RE: China ... yes US please use less ! Thank you.
By Jeffk464 on 5/30/2011 9:50:08 AM , Rating: 5
OPEC does this to us everytime. As soon as americans feel the pinch and start buying more efficient vehicles they drop the price. Americans go back to gas guzzlers and they raise the price. The good thing for OPEC is americans have about a 5 minute memory.

By rudy on 5/30/2011 11:08:08 PM , Rating: 2
This time however I do not think it is within their means to do as they please. There are too many oil producers outside of OPEC now and it is no longer a case where the world can easily produce way more oil than needed. There are about 3 billion people in developing nations that are all wanting to drive SUVs too and as soon as they can afford to step up their consumption they will. I think OPEC could drive prices down short term, like maybe a year or 2 max. But over the next 5 years they are not in control. The price is just going to keep going up unless their is some very big event that changes things.

Get rid of speculators
By blueeyesm on 5/30/2011 8:54:33 AM , Rating: 2
'nuff said.

RE: Get rid of speculators
By armageddon51 on 5/30/2011 10:08:29 AM , Rating: 2
Easy to blame traders for oil price but they merely reflect supply and demand.
Interesting article explaining the need for oil trading.

RE: Get rid of speculators
By Dr of crap on 5/31/2011 1:09:07 PM , Rating: 2
The traders are to cuase of at least $30 per barrel and more.

It's been written about many times in the past few months.\

If we take speculation away from the likes of Goldman Sachs and thier friend, who shouldn't be trading oil futures, the price problem would be taken way down!

the price of gas
By verysoreloser on 5/30/2011 2:44:57 PM , Rating: 2
The article quotes gas at 100$/barrel. However doesn't Saudi Arabia sell at Brent crude dollars/barrel?

If so then the article should have said that Brent was going for 110$/barrel currently and was up to the 125-130 range.

You can't win
By YashBudini on 5/30/2011 3:48:33 PM , Rating: 2
oh dear
By Paj on 5/31/2011 7:37:28 AM , Rating: 2
Of course the Saudi would say that. 'Aww Im not getting as many billions of dollars as I used to.'

More and more people in the US are starting to wake up to the fact that their petrol prices are ridiculously cheap. And big lols at "its my choice to drive a truck for no reason." If you do actually need it, then fine, and yes, it is your choice, but poor choices should have consequences.

Oil prices
By Gungel on 5/30/11, Rating: -1
RE: Oil prices
By Brandon Hill on 5/30/2011 9:17:48 AM , Rating: 2
And how do we know that there are 20, 30, or even 50 year of oil left? Does the earth have an "oil tank" gauge that I've just overlooked ;)

RE: Oil prices
By Jeffk464 on 5/30/2011 9:55:15 AM , Rating: 4
Yes, they are called Geologists. The nice thing about Saudi oil is that it was easy to find and get to. The tougher finds are deep ocean and under the polar ice cap.

RE: Oil prices
By omnicronx on 5/30/2011 12:28:16 PM , Rating: 2
The nice thing about Saudi oil is that it was easy to find and get to.
Because I'm sure its all cataloged and available for all to see.

Guestimations have been made, but only the Saudi's really know what their actual reserves truly are.

Furthermore the OP is not really making any sense. If you are worried about how much supply you have remaining, why would you sell it for a lower price? One would think you would do the exact opposite, lower your output resulting in raised prices and make as much money as you can for as long as possible with a limited supply.

RE: Oil prices
By Jeffk464 on 5/30/11, Rating: 0
RE: Oil prices
By omnicronx on 5/30/2011 2:44:48 PM , Rating: 2
Once again, I'm sure the Saudi's know exactly how much oil reserves they have left.

We on the other hand, including geologists around the world, do not.

They don't release this data, plain and simple. So what exactly does easy oil have to do with anything?

The OP is claiming the Saudi's have motives that make absolutely no sense, so what exactly are you trying to support here?

RE: Oil prices
By Gungel on 5/30/2011 9:56:10 AM , Rating: 2
I would imagine the size and volume of an oil field and how much has been drained from it should give you a pretty good estimate of the oil left.

RE: Oil prices
By Hiawa23 on 5/30/2011 12:36:17 PM , Rating: 2
I don't know if lower gas prices will stop defections to EVs, but for those of us here in the States that are barely getting by, & are not or can't afford to buy new vehicles sure hope the gas prices goes down. If this article is one thing, it clearly shows how these countries continue to play us like a fiddle, & it's sad our country has had decades to come up with some sort of energy plan, & to produce more of our own oil, cause let's be honest, we will not be leaving oil anytime soon, & we might as well dig, drill at every corner of the States to get more more of our own oil while looking at alternatives, because these oil producing countries clearly hate our way of of life our freedoms, but have no issues taking our money. We are supposed to be the greatest country in the world, atleast this is what they tell us on TV, but reality seems to be something else.

RE: Oil prices
By rudy on 5/30/2011 11:19:43 PM , Rating: 2
I know you will think this sucks but your mentality of wishing for lower prices is not going to solve our problems. OPEC knows this, its just giving you a sale on the crack. The best way to solve our issues is just to let them rise. As they rise Americans will adapt and change their lifestyle to use less oil. There are hundreds of things our country could do in a very short time to massively cut our oil use yet the stubborn way of people will not let that happen. The only way people will change is when they really get hit hard and money becomes an issue.

Think about all the indirect ways we could eliminate oil waste. Like get rid of all newspaper and book production and move to completely online media distribution. All the trees and oil to deliver the product will go. But we keep it around in the name of jobs that will be eliminated soon anyway. And we keep it around because some people do not want to change.

Think about how much Americans drive drive to commute from their cozy country homes into work. If oil prices rise you would see people moving closer to where they work. They may need to down size to get that move and then they may not need these huge houses. Which are also eating up energy to heat and cool.

The reality is we lived alot of years with very very nice easy lives and we wont give that up unless we are forced too. And the reason we should be happy to be forced is because it is going to happens sooner or later because this world has 6 billion people who all want that gas and we cannot sustain it. If we get ahead of the curve we will adjust if we are behind it we will be forced into much worse conditions than we are now.

RE: Oil prices
By Spuke on 6/1/2011 2:50:04 PM , Rating: 2
Think about how much Americans drive drive to commute from their cozy country homes into work. If oil prices rise you would see people moving closer to where they work. They may need to down size to get that move and then they may not need these huge houses.
Very nice easy lives? For you maybe, I came from poverty. No easy life for me. Your mentality sucks, hate to say. I really don't want to regurgitate what's already been said. I'll just say, go back and re-read all of the other articles on this subject along with the comments on them.

RE: Oil prices
By sorry dog on 6/3/2011 10:06:10 AM , Rating: 2
Think about all the indirect ways we could eliminate oil waste. Like get rid of all newspaper and book production and move to completely online media distribution. All the trees and oil to deliver the product will go. But we keep it around in the name of jobs that will be eliminated soon anyway. And we keep it around because some people do not want to change.

you make is sound so simple to use less oil yet even your own cherry picked example has problems. Yeah we could all go to online distribution, but what about that large chunk of America that doesn't have computers much less internet. And even if they went out and bought ipads and laptops to read the paper on, isn't that more oil from plastic used to make those and even more oil to deliver the raw material and final products?
...and what about the oil used in the construction of broadband to connect everybody that isn't connected now.

RE: Oil prices
By Hiawa23 on 5/30/2011 12:38:32 PM , Rating: 1
Killing the American Dream with each fillup. Thanks Alot, Saudi & US Governemnt..

RE: Oil prices
By YashBudini on 5/30/2011 1:16:46 PM , Rating: 2
And the "global" oil companies that are laughing all the way to the bank.

RE: Oil prices
By YashBudini on 5/30/2011 1:24:11 PM , Rating: 2
And how do we know that there are 20, 30, or even 50 year of oil left?

It no longers matters. They now have wealth, which means they have power. It's actually a greater threat if it ends, they will be in a more desperate position.

By the looks of things just as the oil wars will be ending the water wars will be starting up.

Peace, what a concept. If only it were more.

RE: Oil prices
By Spuke on 6/1/2011 2:54:38 PM , Rating: 2
I agree with Yash somewhat here but I'll say that the real wars over oil (wars where they'll actually be fighting over oil not claiming it is over something else and the news media saying we are fighting over oil) are still in the future. The difference is we won't be involved next time (won't have to).

RE: Oil prices
By Gungel on 5/30/2011 10:06:10 AM , Rating: 2
I'm only mentioning Saudi Arabia here, I'm not talking about the whole earth. And I doubt the Saudis have some hidden oil filed that still needs to be discovered.

RE: Oil prices
By Jeffk464 on 5/30/2011 4:47:59 PM , Rating: 1
Nope, every grain of sand has already been flipped over.

"We don't want the West to go and find alternatives"
By sh3rules on 5/30/11, Rating: -1
By Saldrin on 5/30/2011 9:32:59 AM , Rating: 1
I see what you're doing there.

I love my jeep, and yes I do get 16 mpg. But I pay for it, not you and I'm all right with that.

By Jeffk464 on 5/30/2011 9:52:36 AM , Rating: 3
Well I'm sure the Saudi Prince is grateful. Your jeep probably paid for him to add another girl to his harem for the year. :)

By spread on 5/30/2011 6:41:02 PM , Rating: 2
Are you kidding? That barely pays for caviar and champagne.

By MadMan007 on 5/30/2011 10:04:55 AM , Rating: 4
As a matter of fact, no, other drivers do pay for you driving a vehicle with poor fuel economy. In a market driven by supply and demand, when demand is higher due to poor efficiency vehicles like all the single-passenger commuter SUVs I see, it raises prices for everyone. Therefore, I am paying for people like you who drive low efficiency vehicles.

By NullSubroutine on 5/30/2011 1:18:59 PM , Rating: 3
And when the government wants to switch to tax per mile to recoup all the lost tax dollars on cents per gallon after everyone is getting 50MPG, I'm sure you are going to be second guessing being mad at those with large vehicles who was subsidizing your reduced tax bill...

By tayb on 5/30/2011 11:21:01 AM , Rating: 5
No, we all pay for your idiocy. Ever heard of supply and demand? People like yourself think you live in a bubble where your actions have absolutely no consequences upon anyone or anything but yourself. You're wrong. Your idiotic desire to throw your own money out of the window to inflate your ego by driving a tank effects EVERYONE. You increase demand, you waste more fuel, and everyone around you feels it at the pump.

This is America, however, and if you want to be a stingy bastard needlessly wastes fuel to inflate your ego you certainly have the right to do so. And you've held nothing back making sure we were aware of that right as well.

Carry on. We all reap what we sow.

RE: "We don't want the West to go and find alternatives"
By KFZ on 5/30/11, Rating: -1
By BZDTemp on 5/30/2011 2:01:15 PM , Rating: 2
Of course consuming gas influences the prices. It simply supply and demand that is the basic principle of pricing. Politics, taxes and so on may make a difference but it all comes down to supply and demand (look up the gas prices in Venezuela if you need see the other end of the spectrum).

Not that it matters what you believe peak oil, US currency losing value like it does and soon the $4 per gallon is gonna become a fairytale old folks tell their kids.

By spread on 5/30/2011 6:34:09 PM , Rating: 2
Its not simply cars but entire fleet efficiency. How many SUVs, trucks and 18 wheelers are on the road? These all add up to icreased consumption.

One of the reasons is poor city and infrastructure planning. More trains and public transportation options could mean higher efficiency if people choose these options and lower overall prices.

By YashBudini on 5/30/2011 1:34:05 PM , Rating: 2
No, we all pay for your idiocy.

This fiasco is going to be small potatoes compared to the Wall St meltdown. There not only did you pay, you're still paying, and they are discovering how to make crime pay indefinitely, so there will be no end in sight, just new meltdowns every decade or so.

If bin Laden had done what Wall St has accomplished WW III against them would have started. All these guys got was a momentary break from their bonuses and handshakes from the president. How could things be more screwed up than that?

Oil prices never affected people anywhere near as much as unemployment. People should have realized they've been sold down the river when the Supreme Court decided corporations are people too. Clueless bastards.

Your idiotic desire to throw your own money out of the window to inflate your ego by driving a tank effects EVERYONE.

Speaking of clueless you're wasting you time here trying to educate the "freedom invokers" here of interdependence. They fight tooth and nail to remain stagnant and unaware of such concepts.

By GruntboyX on 5/30/2011 9:10:48 PM , Rating: 4
ok, you are assuming this guy drives 60 miles to work one way.

We need to factor our living conditions. He may drive a 16mpg jeep, but if he lives in the country he probably only commutes an average 15 miles a day to work. Thus it makes no economic sense at all for him to change his vehicle, because its paid for and he uses less fuel than someone who lives in SoCal drives 90 minutes one way and uses a Prius. In the end the gentlemen in SoCal uses more energy because his commute is vastly greater than the poor redneck working at the local mill. Not to mention he gets out hits highway speeds and is at work in 15 minutes. The SoCal commuter, gets out crawls and idles. Now Hybrids and Plug in vehicles improve that to a degree, but in no way does it entitle you to be come an elitist and tell someone how to live his life.

This is America, we have fought wars over personal liberty, and fought against the actions for the "greater good". Let him drive his poor jeep. Lets face it... its a jeep at some point he will trade it in due to wear and tear. Even if he gets another "suv" the increase in CAFE standards will ensure that the gas mileage will be improved. And good for him if he can make it last 15 years. It reduces environmental waste from overproduction and lowers carbon emmisions in the end.

I hate comments like yours, because it does nothing to solve the problem and only feeds trolls, and polarizes individuals.

Lets talk about the environmental impact of 30+ million people living in the dessert if you want to continue to be smug.

The solution is not going to be one size fits all.

By Jeffk464 on 5/30/2011 10:41:56 PM , Rating: 2
It doesn't make sense to get a new car to improve mileage. But people are buying new cars all the time so you phase in higher mileage cars.

By RadnorHarkonnen on 5/31/2011 4:27:46 AM , Rating: 2
While supply and demand market laws are still alive, those laws just went out the window. The world produces enough oil to meet demand, and they still have more reserve capacity.

This is more a question of regulating a "free-for-all" market. This isn't a free market anymore. Speculators are all over commodities for a long time now, making our life miserable. Gold, Silver, Oil and many others.In the case of oil, even the arabs think 100$ a barrel is too much. You can't find any other product that everybody (including the initial "manufacturer") that complains that is too expensive.

Welcome to the free-for-all market of Milton Friedman.

By Hiawa23 on 5/30/2011 5:15:49 PM , Rating: 2
many of us don't drive suburbans. I own a 97 honda Civic & an 06 Mitsu Lancer Ralliart, any increases affect me tenfold & many drivers no matter what vehicles they drive. Everything else, plus the cost of living has increased yet incomes have been reduced for many, so it aint just the SUV owners it's all of us. We want alternatives, & unless you know anything else my Honda or Mitsubishi will run off of, for most of us, gas is it, & we are concerned, how do you get gas prices down especially since mainly everything else we consume is made from some sort of oil derivative, & everything from food, to insurance also increases as a result.

By spread on 5/30/2011 6:42:10 PM , Rating: 2
Alternatives and choices are what capitalism is all about.

By Alexvrb on 5/30/2011 9:31:26 PM , Rating: 2
*sniff sniff*
Oh that's some mighty fine Smug you're producing there!
Oh my, smells like you've got a little Strawman mixed in there!

By stimudent on 5/30/2011 11:25:28 PM , Rating: 1
Too late.
The kids that live in my immediate neighborhood have asked me if I know what the carbon output is per year with my Chevy Colorado. On the flip-side, they are fascinated with the 3 Hybrid vehicles that are also nearby... which has in turn made a few senior citizens take a greater interest in the subject. The ball is rolling. And it seems to be a really big one.

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