supply and demand question

[hello again 10+ year member]

hey quick econ question:

demand for GAS is high because developing countries like China and India, consume A SHIT LOAD of gas which in turn makes the supply of gas more expensive right?? im writing a report and my sentence is starting out saying

"If we could simply lower the demand for gas, we could have lower gas prices in general.. this could be achieved if countries like china and india XXX XXXX"

what should i say to finish the sentence? if china and india didnt consume so much? i **** at econ and need to finish this paper //content.invisioncic.com/y282845/emoticons/frown.gif.a3531fa0534503350665a1e957861287.gif

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[Bloodstalker999 10+ year member]

where is flip?

 

[blackbonnie 5,000+ posts]

if china and india weren selfish bastar ds

 

[hello again 10+ year member]

.... //content.invisioncic.com/y282845/emoticons/frown.gif.a3531fa0534503350665a1e957861287.gif

 

[hoss 5,000+ posts]

all got too drunk to drive and stayed home?

 

[Bloodstalker999 10+ year member]

If we could simply lower the demand for gas, we could have lower gas prices in general.. this could be achieved if countries like China and India imposed a law requiring more efficiency out of their automobiles. This would lower the price of gas because there wouldn't be such a demand due to a gallon of gas getting you further, literally, and shifting the demand curve down. Once the demand curve is lowered the equilibrium point is no longer at where it once was but instead at a lower price.

thats my stab at it...

 

[regal8r 5,000+ posts]

gas is going up because there is supposedly a refinery problem //content.invisioncic.com/y282845/emoticons/rolleyes.gif.c1fef805e9d1464d377451cd5bc18bfb.gif

oh, and the big wigs in oil are money hungry cocksuckers //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

 

[hello again 10+ year member]

If we could simply lower the demand for gas, we could have lower gas prices in general.. this could be achieved if countries like China and India imposed a law requiring more efficiency out of their automobiles. This would lower the price of gas because there wouldn't be such a demand due to a gallon of gas getting you further, literally, and shifting the demand curve down. Once the demand curve is lowered the equilibrium point is no longer at where it once was but instead at a lower price.
thats my stab at it...

thank you fellow pothead. potheads unite!

 

[azimuth 5,000+ posts]

If we could simply lower the demand for gas, we could have lower gas prices in general.. this could be achieved if countries like China and India imposed a law requiring more efficiency out of their automobiles. This would lower the price of gas because there wouldn't be such a demand due to a gallon of gas getting you further, literally, and shifting the demand curve down. Once the demand curve is lowered the equilibrium point is no longer at where it once was but instead at a lower price.
thats my stab at it...

why should india and china make a law when we consume more gas than both of them. lowering the demand for gas is a waste of time, without mass utilization of alternative fuels. we need to raise the supply. a couple more refineries would help.

 

[hello again 10+ year member]

i didnt really need an indepth answer i just needed someone to remind me what suply and demand meant again lol i know what i could say now.. that raising the supply is a simple and good idea. thanks guys

 

[hello again 10+ year member]

hey KCDC30,

if we raise the supply that would mean the supply curve would be lower right? because that would automatically mean the price to supply it would go down therefore the businesses could supply the gas at a lower price right??

man i feel like econ just takes me in circles:crazy:

 

[azimuth 5,000+ posts]

gas is going up because there is supposedly a refinery problem //content.invisioncic.com/y282845/emoticons/rolleyes.gif.c1fef805e9d1464d377451cd5bc18bfb.gif






oh, and the big wigs in oil are money hungry cocksuckers //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

i heard a report today from some analyst on wall street. he said that the oil company is profiting an average of 9 cents on every gallon they sell. that's after the cost of getting it from the ground, refining it and moving the product to consumer outlets. the government gets 45 cents for tax on every gallon, which is actually about the same as when gas was 2.00 per gallon.

 

[hello again 10+ year member]

also, would i be incorrect to say "if we built more oil refineries, the cost to supply oil would be cheaper, therefore, demand would also go down??"

 

[azimuth 5,000+ posts]

hey KCDC30,
if we raise the supply that would mean the supply curve would be lower right? because that would automatically mean the price to supply it would go down therefore the businesses could supply the gas at a lower price right??

man i feel like econ just takes me in circles:crazy:

there's probably better people to explain the specifics than me. that's what alot of people say though. //content.invisioncic.com/y282845/emoticons/fyi.gif.9f1f679348da7204ce960cfc74bca8e0.gif gas in england is about $7.00 per gallon right now.

 

[azimuth 5,000+ posts]

also, would i be incorrect to say "if we built more oil refineries, the cost to supply oil would be cheaper, therefore, demand would also go down??"

i'm not sure that just adding refineries would solve the whole problem. we need to be able to drill for more oil on american soil. we have a lot of environmental sanctions that greatly restrict even looking for oil in places like alaska, colorado, the gulf of mexico, etc.