Here's the question I have based on China's news today-

What price does oil need to maintain in order to keep up the pressure on consumers who will demand a better alternative?

I think the current 135-140 price is good motivation.

Personally I hate paying 4.19 for gas but I love the fact that it's causing an uproar & motivating us to find alternatives.

BDP

Just remember, oil is still very cheap. One gallon of oil is the rough equivalent of 6 weeks of human labor. One gallon can move a car around 20 miles. If you put it in those terms there will be a continued demand as long as the cost of oil is cheaper than labor. It is far cheaper even than Chinese labor.

Alternatives will now start to flow in but they will take a long time and are not as good as oil. Oil is a beautiful product and we will miss it dearly. Of course we won't miss the pollution, health problems, dealing with countries that hate us, etc. But we will miss that beautiful black gold.

A barrel of oil gives about 20 gals of gasoline. Crude represents 45% of the cost of gas. $135/barrel translates to $15/gal of gas.

A barrel of oil gives about 20 gals of gasoline. Crude represents 45% of the cost of gas. $135/barrel translates to $15/gal of gas.

That's more motivation than even I'd like to see! But, the faster you take your medicine the sooner you'll be healed!