David Ricardo

$200 Oil - Who's Going to Pay For It?

You're right Scadaman, not all Americans drive SUVs...
As I was walking through the commuter parking lot I noticed all the Crew-cab pickup trucks, full-size vans, minivans, muscle cars, even a Humvee. Fortunately there more econocars than last year. Lately I've been leaving my Landrover in the garage and drove the Cavalier instead.

$200 Oil - Who's Going to Pay For It?

My cousins in Ireland are already paying more than $8 a gallon, and they are doing fine. They drive much smaller cars and don't drive as much. One of them was visiting last year and was astonished to see gasoline at $2 a gallon. "If petrol was this cheap back home, I'd be wasting it too."
At $200 per barrel oil we'll finally adopt conservation, solar power, biomass, wind energy, and hopefully nuclear power, so that we can end our deadly dependence on imported oil.