Quote:
Originally Posted by BrianH  My studies in economics would teach me that drivers "cutting back" would decrease demand and increase supply (do to lack of purchases-and additions by plants). However, I also wonder why liberals would go against this same economic theory when conservatives talk about wanting to increase the supply by drilling more. It sounds like many are cherry-picking.
. |
The theory is sound. Your numbers, or lack of, are not though. Cutting back can save massive amounts of oil that can never be replaced. Drilling will only bring so much oil to the surface to be used. We possess 3% of the world's known reserves yet use 25% of the oil. You do the math. Where is there more room for improvement, the supply or demand side?
On top of that, with China's economy growing by 10% a year there is no way the world can even think of meeting that demand without serious conservation efforts