Don't be fooled by low gas prices -- the crunch is nearly here
Dan Gardner understands that the second economic shoe is going to drop in the not too distant future. Short term economic thinkers (which, sadly, is indicative of the approach of most of us) see falling gas prices as relief. It will prove to be the reverse. Lower prices will inevitably encourage consumption and once again the world will bump up against the limited supply, and the upward price spiral will start again. I certainly hope Dan Gardner is correct when he suggests that the election of Barack Obama is going to make a difference. He may get it, but will he be able to convince enough of his colleagues and the American public that they must begin to think long term on this file if their children are to have a future?
I will only begin to believe we have started to turn the corner on this in public attitude if personal fuel consumption continues to drop even if prices drop. Then we will know that collectively, consumers are paying attention. People need to stop wasting the stuff irrespective of price. Anyone think that will happen? That is my approach, but, I am probably the oddest eccentric on my block. That's what the world needs, more eccentrics! (Of course, then we wouldn't be deemed eccentric if we were the majority, now would we?.)