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GasBuddy News Article


How to Kick Our Oil Addiction Despite Plunging Oil Prices
Monday, November 17, 2008
The Wall Street Journal -- The good news: Oil prices have fallen. The bad news: Oil prices have fallen.

Though the soaring cost of oil squeezed consumers' wallets and corporate balance sheets, it had one important benefit: Oil demand in the developed world is projected to decline in 2008 for the third year in a row -- something it hasn't done since the early 1980s -- as motorists kept their cars parked and shifted away from gas guzzlers, and businesses aggressively trimmed fuel costs.

Higher prices also spurred development of alternative-energy sources, like solar and biofuels, that cheap oil made uneconomical.


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JT
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Message Posted: 11/17/2008 10:16:26 AM  Ignore JT Report Abuse
Monday, November 17, 2008
The Wall Street Journal -- The good news: Oil prices have fallen. The bad news: Oil prices have fallen.

Though the soaring cost of oil squeezed consumers' wallets and corporate balance sheets, it had one important benefit: Oil demand in the developed world is projected to decline in 2008 for the third year in a row -- something it hasn't done since the early 1980s -- as motorists kept their cars parked and shifted away from gas guzzlers, and businesses aggressively trimmed fuel costs.

Higher prices also spurred development of alternative-energy sources, like solar and biofuels, that cheap oil made uneconomical.

Visit The Wall Street Journal for full article
REPLIES (newest first)
lowertwin
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Kentucky

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Message Posted: 11/19/2008 10:09:56 PM  Ignore lowertwin Report Abuse
good
rd2000
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Florida

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Message Posted: 11/19/2008 3:50:34 AM  Ignore rd2000 Report Abuse
Keep developmenting alternative-energy sources
dwurm
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Columbus

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Message Posted: 11/18/2008 11:55:58 PM  Ignore dwurm Report Abuse
The market will take care of it's self if our new Comrade doesn't mess it up like he said he would. If we sign the Kyoto treaty like he plans, we will revert to a third world economy.
magnumCA
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Los Angeles

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Message Posted: 11/18/2008 9:49:08 PM  Ignore magnumCA Report Abuse
good
USAFAMMO
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Virginia

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ok
Skipastar
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Salt Lake City

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Message Posted: 11/18/2008 11:13:12 AM  Ignore Skipastar Report Abuse
Now is the time for alternative energy investment.
It's like catching the wave before it forms.
rockinrog
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Ontario

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Message Posted: 11/18/2008 10:44:45 AM  Ignore rockinrog Report Abuse
this si the time to seriously look at the alternatives, becasue when the economy does rebound...oil will spike more than it did this year.
frdhbrd
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Calgary

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Message Posted: 11/18/2008 10:25:53 AM  Ignore frdhbrd Report Abuse
If only politicians would read this
Badmoon
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Massachusetts

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Message Posted: 11/18/2008 10:24:58 AM  Ignore Badmoon Report Abuse
BoerneWatch

Oil Demand world wide has gone up. Developed countries have slowed on demand but developing countries have been driving demand.
starfighter08
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Illinois

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Message Posted: 11/18/2008 10:19:02 AM  Ignore starfighter08 Report Abuse
I'm not addicted to oil. Never have been. Never will.

I'm just trapped in a situation that's a result of decisions made and policies adopted years before I was born.

I love riding trains, but the trains don't go where I want to go. I love flying, but I prefer not to be treated like a prisoner and a sardine all at the same time. (or one at a time either!). I love ships (spent 7 1/2 years underway!), but the ships don't go where I would like, and the fare costs 3 arms and 5 legs (I only have 2 of each!)

So, I'm not addicted to oil. Just natural gas.

Have a great day.
:-)
CSFireFish
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Colorado Springs

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Message Posted: 11/18/2008 10:07:13 AM  Ignore CSFireFish Report Abuse
All we have to do is suck those other countries dry and then they will turn to us when we are the only ones with oil!
kanmandoo
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Detroit

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Message Posted: 11/18/2008 10:06:27 AM  Ignore kanmandoo Report Abuse
We are as low as $1.75 in metro Detroit.
jayeman
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Pennsylvania

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Message Posted: 11/18/2008 10:02:56 AM  Ignore jayeman Report Abuse
high prices = motivation to conserve. with prices lower, you can already see the suv's and big pickups hitting the road more & more.
Badmoon
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Massachusetts

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Message Posted: 11/18/2008 10:00:37 AM  Ignore Badmoon Report Abuse
In general we (americans) are way to spoiled to do the right thing on our own. We may all believe we need to continue to conserve and develop alternatives to secure our energy needs well into the future but when oil is cheap we continue to use more. I'm not a fan of more government but we need a plan in place and fully funded NOW to break us of our bad habits with cheap gas before its too late and we end up in WW 3. There will come a day when we will go without or take it away from others because there really isn't enough to go around. What will we do then?
DooDaa
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Massachusetts

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Message Posted: 11/18/2008 9:59:30 AM  Ignore DooDaa Report Abuse
it will all change soon!!
ss70
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Detroit

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Message Posted: 11/18/2008 9:59:04 AM  Ignore ss70 Report Abuse
it is becoming hard
DrakIII
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San Diego

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Message Posted: 11/18/2008 9:58:07 AM  Ignore DrakIII Report Abuse
Ain't going to change in your lifetime or mine. People are 'creatures of habit' and they hate to break habits.
PFCASTA
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Worcester

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Message Posted: 11/18/2008 9:56:45 AM  Ignore PFCASTA Report Abuse
GOOD
dosibm
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Raleigh

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Message Posted: 11/18/2008 9:56:32 AM  Ignore dosibm Report Abuse
This article points out that we are our own worst enemy if we don't change
"American transportation is more than 95% dependent upon oil, a proportion virtually unchanged since the 1973 Arab oil embargo. Americans will have spent $700 billion on oil imports in the last two years. That is more than we spend annually on defense. If that money stayed here, it would generate $7 trillion in economic activity."
GasholeMI
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Lansing

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Message Posted: 11/18/2008 9:54:08 AM  Ignore GasholeMI Report Abuse
I still do not believe that oil demand in the developed world has declined in 2006 and 2007. This year I can understand but not the previous two.
AlaRedNeck
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Kansas

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Message Posted: 11/18/2008 9:53:42 AM  Ignore AlaRedNeck Report Abuse
Very good news.
parsec
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Toronto

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Message Posted: 11/18/2008 9:50:47 AM  Ignore parsec Report Abuse
good news.
farmersboy
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Madison

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Message Posted: 11/18/2008 9:50:30 AM  Ignore farmersboy Report Abuse
conserve
BoerneWatch
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San Antonio

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Message Posted: 11/18/2008 9:50:24 AM  Ignore BoerneWatch Report Abuse
"Oil demand in the developed world is projected to decline in 2008 for the third year in a row -- something it hasn't done since the early 1980s -- as motorists kept their cars parked and shifted away from gas guzzlers, and businesses aggressively trimmed fuel costs."

I thought world demand was going up until July or August.

At least that is what was pounded into my head by the lying media for the last 3 years!
farmersboy
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Madison

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Message Posted: 11/18/2008 9:50:10 AM  Ignore farmersboy Report Abuse
conserve
farmersboy
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Madison

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Message Posted: 11/18/2008 9:49:55 AM  Ignore farmersboy Report Abuse
Conserve
jaysun420
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Kansas City

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Message Posted: 11/18/2008 9:49:43 AM  Ignore jaysun420 Report Abuse
Thanks GM for selling those 8 mile a gallon hummers to all of those soccer moms...
sidhall142
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Twin Cities

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Message Posted: 11/18/2008 9:49:25 AM  Ignore sidhall142 Report Abuse
heard it before
ww2gas
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Virginia

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Message Posted: 11/18/2008 9:49:03 AM  Ignore ww2gas Report Abuse
Alternatives and conservation remain key to our future.
cableman31
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New York

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Message Posted: 11/18/2008 9:49:00 AM  Ignore cableman31 Report Abuse
CONSERVE _ CONSERVE _ CONSERVE
BrianLynne
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Indiana

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Message Posted: 11/18/2008 9:48:18 AM  Ignore BrianLynne Report Abuse
People never learn. It's human nature. If the prices stay low, people will go back to gas guzzling so they can have the biggest honkin' SUV on the road and up will go the prices again along with the whining that goes with it.
Jamer
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Orange County

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Message Posted: 11/18/2008 9:48:02 AM  Ignore Jamer Report Abuse
Old news once again
laoloup
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Montreal

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Message Posted: 11/18/2008 9:47:54 AM  Ignore laoloup Report Abuse
Alternative energy is the way to go. One day, hopefully not too far away, a winning solution will leave oil for other uses than as a fuel source.
MightyDude
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Minnesota

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Message Posted: 11/18/2008 9:46:57 AM  Ignore MightyDude Report Abuse
continue to conserve, research and drill
RedRam2005
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San Antonio

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Message Posted: 11/18/2008 9:45:40 AM  Ignore RedRam2005 Report Abuse
Planning for the future must still be a major concern. Oil supplies will last forever, and now is the time to start the transition.
AC-302
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Los Angeles

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Message Posted: 11/18/2008 9:45:08 AM  Ignore AC-302 Report Abuse
It's intersting that the energy alternatives are only economical when oil prices are sky high. It suggests that the alternatives aren't so economical.
rbdesigns
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Modesto

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Message Posted: 11/18/2008 9:44:25 AM  Ignore rbdesigns Report Abuse
I hope we have learned from all this. We need to keep conserving and start using other fuels.
Overfill
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Albuquerque

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Message Posted: 11/18/2008 9:41:34 AM  Ignore Overfill Report Abuse
Old news
VTROCK
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Detroit

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Message Posted: 11/18/2008 9:41:26 AM  Ignore VTROCK Report Abuse
We can't let ourselves be fooled by temporarily low oil prices. They will go up again, the only questions is how high?
rod1965
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Portland

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Message Posted: 11/18/2008 9:41:13 AM  Ignore rod1965 Report Abuse
I agree with frede2, but, let's add all the politicians to that.
Dennis783
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Wisconsin

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Message Posted: 11/18/2008 9:41:08 AM  Ignore Dennis783 Report Abuse
how can it be bad news?
Expdn2000
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Hartford

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Message Posted: 11/18/2008 9:40:07 AM  Ignore Expdn2000 Report Abuse
However, it's not all about fuels..... petroleum is used for tons of other materials like plastics etc... to slow our so called addiction, there would have to be major changes to your entire lifestyle.
frede2
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Texas

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Message Posted: 11/18/2008 9:38:25 AM  Ignore frede2 Report Abuse
How about the oil execs, speculators, Wall Street thugs, etc. kick their money addiction instead?
brandi12
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Richmond

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Message Posted: 11/18/2008 9:37:41 AM  Ignore brandi12 Report Abuse
walk
2907
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Kentucky

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Message Posted: 11/18/2008 9:35:39 AM  Ignore 2907 Report Abuse
OPEC is behind all of this to thwart any type of alternate energy plans.
DFleming
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Alberta

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Message Posted: 11/18/2008 9:35:29 AM  Ignore DFleming Report Abuse
Camel? Horses have a better temperment.
rjb21760
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Chicago

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Message Posted: 11/18/2008 9:34:54 AM  Ignore rjb21760 Report Abuse
Kick the oil addiction, ride a camel
Lonewolftx
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Houston

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Message Posted: 11/18/2008 9:33:50 AM  Ignore Lonewolftx Report Abuse
well it will settle out in the near future.
spadilla
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San Antonio

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Message Posted: 11/18/2008 9:31:34 AM  Ignore spadilla Report Abuse
I hope enough people got scared to start considering the Pickens Plan and to rethink nuclear.
fairchildd
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Kansas City

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Message Posted: 11/18/2008 9:29:53 AM  Ignore fairchildd Report Abuse
just remember the lessons learned
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