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<blockquote data-quote="Flipx99" data-source="post: 5286289" data-attributes="member: 562352">Most people didn&#039;t.As for your second point, that depends.If a) people continued to be &quot;scared&quot; by $4 gasoline and the threat remains credible...ie, continue to carpool, continue to cut back, etc.b) with the simultaneous decrease in demand, both from consumer (as above) and industrial (due to global recession)c) we begin to replace oil with something else.If those three events converge, oil will stay cheap. However, I don&#039;t believe the consumer is &quot;scared&quot; enough to continue the habits that they took when gas was $4/gal. Thankfully, the global recession will decrease industrial demand. Part &quot;c&quot; will require government support.We had this opportunity before during the collapse of oil (and the USSR) in the late 80s, early 90s. I doubt we learn from our mistakes.</blockquote>

[QUOTE="Flipx99, post: 5286289, member: 562352"] Most people didn't. As for your second point, that depends. If a) people continued to be "scared" by $4 gasoline and the threat remains credible...ie, continue to carpool, continue to cut back, etc. b) with the simultaneous decrease in demand, both from consumer (as above) and industrial (due to global recession) c) we begin to replace oil with something else. If those three events converge, oil will stay cheap. However, I don't believe the consumer is "scared" enough to continue the habits that they took when gas was $4/gal. Thankfully, the global recession will decrease industrial demand. Part "c" will require government support. We had this opportunity before during the collapse of oil (and the USSR) in the late 80s, early 90s. I doubt we learn from our mistakes. [/QUOTE]

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