Gas is an inelastic good since people consume about the same amount of gas regardless the price. But long term, people will move closer to their work, buy more fuel efficient vehicles, or use shared transportation. This transition is brutal to the poor. I wish the government provided relocation assistance but they'd probably be accused of genociding our car dependent cities.
A lot of Americans are in bad situations and/or have complete carbrain and will commute 40+ miles one way for work. One of my professors drove 200 miles per day because his wife had a job in a different city. Americans deal with high gas prices because they assume it's temporary and perhaps voting for the other party will lower the prices. Americans can deal with a lot of hardship or pointlessness if they assume it's temporary or only impacts less than 10% of the population.
I'm curious to see how much people can take. It might have to get to a point where the cost of gas exceeds a weekly paycheck for people to care.
Yeah, a lot of environmentalists want gasoline up to $20 a gallon. Because at that price suddenly lots of heretofore "infeasible" solutions become feasible. It hurts the little guy the most, but since when do environmentalists care about the deplorables?
since when do environmentalists care about the deplorables?
Plenty of environmental literature talks about how to create a sustainable world without shoving all the burdens onto the poor. That's not usually what gets amplified, though.
The people who write the environmental literature are overwhelmingly upper middle class and professional-managerial class. They are in conflict with the little guy and this will never change.
I've met more than I'd like to. I'll call them liberals, careerists, ineffectual, coopters, but they always strike me as genuine and as having a deeper analysis of power. C'mon, they quote Naomi Klein like it's the bible.
We're in an energy crisis because we stopped buying oil and gas from the second largest oil exporting country in the world. I think putting the blame on speculators is propaganda to redirect the blame away from the war. I think it is more likely that Europe is importing oil and gas like crazy due to the supply shock than a global conspiracy by oil companies to artificially inflate the price of oil. Prices will go down when the war ends and we buy russian fuel again (or tap a ton of wells) but the EU pledges to cut off russian oil by 2027 so I think we're in it for the long run.
Oil prices are based on global demand. Since the start of the conflict, week over week the US has been consistently selling more domestic oil to Europe and they are willing to pay more for it than we are.
But yeah, speculators caused the prices to rapidly increase but we already saw the effect of this. If we beheaded all the speculators today, it wouldn't cause oil prices to substantially decrease because European demand is rapidly increasing.
One solution is banning oil exports and then we would have cheap gas again but Europe would get crushed and they would go into an economic depression.
Factually speaking, gasoline producers are making all time high profits https://fortune.com/2022/05/05/oil-companies-massive-profits-first-quarter-russia-ukraine/
Those taking losses from withdrawl from Russia are taking big one-time hits
people consume about the same amount of gas regardless the price.
I have stopped driving out to the suburbs to visit my family and have been making excuses to work from home more often. It's inelastic for suburbanites, for sure, but city dwellers absolutely reduce consumption.
Gas is an inelastic good since people consume about the same amount of gas regardless the price. But long term, people will move closer to their work, buy more fuel efficient vehicles, or use shared transportation. This transition is brutal to the poor. I wish the government provided relocation assistance but they'd probably be accused of genociding our car dependent cities.
A lot of Americans are in bad situations and/or have complete carbrain and will commute 40+ miles one way for work. One of my professors drove 200 miles per day because his wife had a job in a different city. Americans deal with high gas prices because they assume it's temporary and perhaps voting for the other party will lower the prices. Americans can deal with a lot of hardship or pointlessness if they assume it's temporary or only impacts less than 10% of the population.
I'm curious to see how much people can take. It might have to get to a point where the cost of gas exceeds a weekly paycheck for people to care.
I feel like they're always some chud manager who drives some full size SUV so they can tow their boat once a year too.
My manager lives like an hour away and drives ones of those huge 4 door lifted trucks that requires a foot hold thing and a grabby bar to climb into
Yeah, a lot of environmentalists want gasoline up to $20 a gallon. Because at that price suddenly lots of heretofore "infeasible" solutions become feasible. It hurts the little guy the most, but since when do environmentalists care about the deplorables?
Plenty of environmental literature talks about how to create a sustainable world without shoving all the burdens onto the poor. That's not usually what gets amplified, though.
Yep, Malthusianism and eco-fascism are the only forms of environmentalism that don't threaten capital.
The people who write the environmental literature are overwhelmingly upper middle class and professional-managerial class. They are in conflict with the little guy and this will never change.
Literally, every environmentalist I've ever met has been a democratic socialist, Indigenous patriot or an anarchist. Who are you even talking about?
Maybe you need to meet more environmentalists.
I've met more than I'd like to. I'll call them liberals, careerists, ineffectual, coopters, but they always strike me as genuine and as having a deeper analysis of power. C'mon, they quote Naomi Klein like it's the bible.
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We're in an energy crisis because we stopped buying oil and gas from the second largest oil exporting country in the world. I think putting the blame on speculators is propaganda to redirect the blame away from the war. I think it is more likely that Europe is importing oil and gas like crazy due to the supply shock than a global conspiracy by oil companies to artificially inflate the price of oil. Prices will go down when the war ends and we buy russian fuel again (or tap a ton of wells) but the EU pledges to cut off russian oil by 2027 so I think we're in it for the long run.
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Any reading on this? Not saying I don't believe you, but I am very interested in the topic
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Oil prices are based on global demand. Since the start of the conflict, week over week the US has been consistently selling more domestic oil to Europe and they are willing to pay more for it than we are.
But yeah, speculators caused the prices to rapidly increase but we already saw the effect of this. If we beheaded all the speculators today, it wouldn't cause oil prices to substantially decrease because European demand is rapidly increasing.
One solution is banning oil exports and then we would have cheap gas again but Europe would get crushed and they would go into an economic depression.
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Yeah, I agree, profiteering ghouls are making a bad situation worse.
Wasn't gas already pretty high before the Ukraine invasion?
Factually speaking, gasoline producers are making all time high profits https://fortune.com/2022/05/05/oil-companies-massive-profits-first-quarter-russia-ukraine/
Those taking losses from withdrawl from Russia are taking big one-time hits
So, There's this place called America, and all of those things are illegal.
I have stopped driving out to the suburbs to visit my family and have been making excuses to work from home more often. It's inelastic for suburbanites, for sure, but city dwellers absolutely reduce consumption.