The market will impose a high enough price to force people to conserve whether they like it or not. At least this way they can't bitch it is all a government conspiracy to deprive them of their "freedom".

'If It's Raining In Brazil, Buy Starbucks'...Some interesting comments from a professor of economics at U Cal and a book with the amusing title above. Occasionally I watch Squeek Blab, especially if they have some one on the show that calls em like he/she sees em. Why does Squeek Blab devote so much time to stock markets and so little time to commodities and the bond markets?
I think the good professor should write another book entitled 'Stock Traders Are From Venus, Bond Traders Are From Mars'...Anywho, the good proff has an interesting take on why the Fed is having so little effect on the US economy with their continuing prime rate cuts and other mechinations along with the following quote which most of us have heard before (or, something similar):

'I might note here that there is no world oil price shock in progress. It is a US oil price shock. As the dollar has fallen against the euro, Europeans are actually paying about the equivalent of $50 a barrel oil.'

And the proff continues: 'The Fed's conundrum is this: every time it cuts short-term rates, it hopes that the bond market will react collectively by pushing down long-term yields. When the Fed is effective in influencing the long end of the yield curve, it has its only chance of stimulating consumption and investment. The problem now is that the bond market is not cooperating.' Why isnt the bond market cooperating? Well, thats the interesting bit. Its a good read but we are exhorted to post in moderation...moderation is dependent on, among other things...The phase of the moon, lack of extracarricular activities, threat of a visit by inlaws...Or, all manner of other unknowable unknowns to mere mortals... :)

http://www.financialsense.com/editorials/navarro/2008/0211.html