 | Peak Oil Media: Our President on Energy, Kunstler on Glenn Beck last night, and GWB Does Dr. Evil | The Oil Drum |
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Eh? The word "oil" doesn't appear in the article. It is about gasoline prices.
Personally, I've come to the conclusion that US driving habits have almost no effect on oil prices any more. Diesel demand is driving prices. Producing enough diesel to meet demand has resulted in a glut of (relatively) cheap gasoline. If America cuts back on driving, it will put more downward pressure on gasoline prices, but it will little or no effect on diesel consumption. Hence, it will have little effect on oil prices.
So, gasoline price crash? Maybe. Oil price crash? Unlikely (though I suspect it depends on what you mean by crash).
This implies that there's already "downward pressure on gasoline prices" which is massively refuted by reality.