NAC: gas prices going up.....more...

[Lyle Seaman]

I expect gas prices to be relatively high for a good long time.  I'm
resigned to it,  because the only way they're coming down now is a global
economic crash, and that would be worse. It would be nice if the dollar
wasn't so cheap, but if we can't cut defense and entitlement spending, and
we can't raise taxes, then the debt is going to keep growing, and the dollar
is going to stay weak.  Between the soft dollar, and the fact that global
demand is consistently growing at a faster rate than new reserves are being
discovered, high prices seem inevitable.  I'm no economist, but this is
high-school stuff.

 Much as I enjoy my gas-guzzling A8, I'm going to be figuring out a
convenient way to cart my groceries home those three blocks from the grocery
store. 

The big question is consumer behavior -- will the higher prices cause people
to alter their behavior enough to significantly reduce demand?  How
expensive does gasoline have to get before commuters start carpooling again?
Will $3/gal do it?