Ups and Downs of the gas prices: classic example of SUPPLY and DEMAND at work (so we were told). If so, then what I've learned from my Economics class is really true. Ugh!
I vaguely remember the graphs and charts that the professor made us memorized. When this is up, that goes down. When that shifts, this changes. Hmmm... should have paid more attention then perhaps I'll have a better understanding of our mess.
Reality Check: Doesn't matter what the economists say though, the proof is in the pudding. Just look at my world and how the gas price is impacting me. See the pictures that I took at the pump last year and this past weekend? Same stinky tank of gas but it cost less than half of last year. I'm not complaining, but how can we live with this wild fluctuation? Where does my income line fit on the chart along with the interest rate and inflation?
I don't expect that we will ever have cheap gas again. However, those who are manipulating the oil prices should learn that people, when push comes to shove, will find alternatives thereby changing the demand line on the S/D chart completely. If so, then what?
I really need to go dig out my charts.
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