Reply #27: Lets not overdramatize [View All]

I currently pay over 5 dollars per gallon. It makes me wish for an
even more fuel efficient car. My current car gets about 25Mpg. If
fuel went to 10 per gal., i'd get a car getting 50mpg and life would
go on.

Fuel efficiency would cover much. As well, economics dictates that
many other forms of fuel would become cost effective. Suddenly it would
pay to add another 6 inches of insulation to the house to save heating
oil when current economics simply say to waste the heat.

You paint it black and white, but if you go hang out in europe where
gas prices are already going towards the price you mention, you'll
find much smaller, fuel efficient cars, and people making much more
considerate use of them. As well, when the price goes up, certain
sources of oil that are currently too expensive to drill, will suddenly
become economically feasible, and the supply will increase. In canada
alone, there is enough oil in the sand/shale to last 100 years, but
extraction is too expensive given current retail prices... but as the
price goes up, these supplies suddenly come on line.