<Hurricane Dean Update and Resource Aggregation Post The Oil Drum The Economics of Oil, Part I: Supply and Demand Curves>

62 comments on The Economics of Oil, Part I: Supply and Demand Curves (Detached Comment Thread)

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alanisthename on August 19, 2007 - 5:35am Permalink | Subthread | Parent | Comments top

You may be right but I can't remember all the details back that far. However, when you consider the process flow between the well heads and the gas tanks, the only thing that can change quickly is driver behavior. The flow through the refineries can't change quickly enough to respond panic buying. Shortages would result.

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Starvid on August 19, 2007 - 5:41am Permalink | Subthread | Parent | Comments top

Now, I don't have any firsthand experience as didn't live in the US and wasn't even born yet, so I know only what I have read and been told.

And that is that there were no shortages in 1979 while there were shortages in 1973. In the US.

Funny that I have no idea how it was in Sweden. :)

But most people I've asked don't even remember the oil crises, so they can't have been very dramatic. What people remember is the huge conflict over the deployment of mitigation in the form of a massive nuclear rollout.

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alanisthename on August 19, 2007 - 5:54am Permalink | Subthread | Parent | Comments top

I was around then. I remember a Time magazine in 1973 with pictures of long queues at gas stations in the US. Drivers emptied the gas stations in a couple of days. This has stayed with me to this day, and I make sure our gas tank is filled at the first sign of trouble. My advice - fill your tank and keep it filled because that's what everybody else will try to do. Get in first.

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Starvid on August 19, 2007 - 6:13am Permalink | Subthread | Parent | Comments top

Well I would, if I had a tank.

But I drive electric.


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alanisthename on August 19, 2007 - 7:00am Permalink | Subthread | Parent | Comments top

Smart move. I tried out a Vectrix electric scooter in London recently when they were demonstrating them. It was a bit pricey but a perfectly good replacement for a conventional oil burner.

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elwoodelmore on August 19, 2007 - 7:02am Permalink | Subthread | Parent | Comments top

keeping your tank full may be a good policy, but is sure as hell doesnt change the supply or demand. how long will that last tank "fix" maintain the addiction ?

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marcosdumay on August 19, 2007 - 10:21am Permalink | Subthread | Parent | Comments top

For me, enough to escape from my city and come back later.

I've not decided yet if I am a dommer or a cornocupian :) But it is always good to have an escape route.

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62 comments on The Economics of Oil, Part I: Supply and Demand Curves (Detached Comment Thread)

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