Our Free Market solving the Oil Price

edit: Thread Necro!

Oil has shot up a huge amount in the last couple of years.

Economic theory states that people will move towards alternatives (or reduce consumption) as prices increase.

Thinking about yourself or your family: what changes have you made because of the price increase?

Have you:
- researched into how to reduce your fuel consumption?
- actively reduced your fuel consumption?
- invested in ways of reducing consumption (e.g., changed vehicles, insulated the house, etc.)?
- purchased alternative energy sources?
- invested in Alternative Energy markets?
- actually offered services (i.e., became a supplier) related to the provision of Alternative Energy or reduced energy consumption?

Look around, what portions of a 'solution' do you see happening around you?

Well I've certainly driven more efficiently since oil prices increased. Additionally, I've not driven when otherwise I would have.

But I've not "supported" alternative fuels as a result of fuel price, but this is mostly due to my "support" of them anyway, regardless of pump prices...

El_Machinae said:

Have you:
- researched into how to reduce your fuel consumption?

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Not really. I know how all ready.

- actively reduced your fuel consumption?

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I drive a race car that gets about 1 mile to the gallon at full throttle sometimes. My daily driver however gets 30mpg on average. I keep the trunk empty and have it tuned to get the best rate of mpg.

- invested in ways of reducing consumption (e.g., changed vehicles, insulated the house, etc.)?

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I have cut back on my electrical consumption. Not for altruistic reasons but because my bill went up 80% over the last year.

- purchased alternative energy sources?

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I would if I could. When I buy a proper house it will have solar offsets.

- invested in Alternative Energy markets?

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Yes !

- actually offered services (i.e., became a supplier) related to the provision of Alternative Energy or reduced energy consumption?

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I do push more "green" window systems to customers. I use the reduced costs over time to sway them. Does that count? I'm slowly fading it in to where there will be no choice.


My biggest roadblock to reducing energy is that I live in a condo so my flexibility is almost nothing when it comes to what I can use to power the house.

I do push more "green" window systems to customers. I use the reduced costs over time to sway them. Does that count?

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Yes, 100% it counts.
I'm very interested if people have changed career paths or investment paths, though, because they figure that the price of oil will allow Alt.E to give them a profit.

I don't drive between Seattle and Portland anymore (mostly due to not wanting my car to break down again) so I save money on gas that way. Instead I just take an Amtrak train. Sure it takes a little longer and there's always an hour in which you're just sitting on the track but it beats traffic and airlines.

I try to work one day a week at home now rather than drive to office.

I am trying to invest in a cooperative wind power scheme.
Problem is that the NIMBYs are so stupidly obstructive.

El_Machinae said:

Oil has shot up a huge amount in the last couple of years.

Economic theory states that people will move towards alternatives (or reduce consumption) as prices increase.

Thinking about yourself or your family: what changes have you made because of the price increase?

Have you:
- researched into how to reduce your fuel consumption?
- actively reduced your fuel consumption?
- invested in ways of reducing consumption (e.g., changed vehicles, insulated the house, etc.)?
- purchased alternative energy sources?
- invested in Alternative Energy markets?
- actually offered services (i.e., became a supplier) related to the provision of Alternative Energy or reduced energy consumption?

Look around, what portions of a 'solution' do you see happening around you?

Click to expand...

Not much. Then again I live in a low energy usage area (San Diego) where people just don't use heaters or air conditioning that often. I myself try not to use my furnace as much but like I said using it 3 days per year instead of 4 isn't all that much in real savings. I still drive a V-6 powered car, haven't bought a new one, though I do . .. .. .. .. . about gas prices every time I fill up.

About the only obvious outward sign of any response to the energy price spikes has been that people are buying fewer SUVs but since SUVs already make up 50% of the cars on the road over all usage isn't going to change until those gas guzzlers are taken off the road and replaced by more efficient vehicles. 25 years of doing exactly jack cheese towards improving efficiency and reducing energy consumption has come to bite us in the ass. GM & Ford are still saying it is impossible to improve fuel economy even while all the imports, Asian or European, have managed to do so. What's worse is the big three THEMSELVES managed to get 25% better gas milage in 1987 then we get today yet they still insist on continuing this lie.

I say . .. .. .. . them. They claimed taking lead out of gasoline was impossible. They said putting exaust gas recirculation valves on engines to cut unburned hydrocarbon output by 95% was impossible, they said it was impossible to build a catalytic converter, they said it was impossible to build cars which protected passengers by absorbing impacts, and the big three even said it was impossible to have a working and affordable air bag. I say the big three are the air bags and that Congress just needs to keep regulating these bastards in order to drag them kicking and screaming to the standards the rest of the world has already achieved.

Moderator Action: Please watch your language.

I heard somewhere in the maritimes they're providing recycling bins the size of garbage bins because thats how much you should be recycling. That would be helpful here because I have to use three to four smaller bins each week.

Otherwise the heat goes down to 65f at night and is kept at 70 during the day. All lightbulbs were switched to energy saving ones about a year ago... Don't shop with shopping bags, bring the green plastic boxes. Trying to use drivethrus a little less right now. No more idling car on cold mornings.

El_Machinae said:

Yes, 100% it counts.
I'm very interested if people have changed career paths or investment paths, though, because they figure that the price of oil will allow Alt.E to give them a profit.

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I was a second year poli sci and history double major from Ontario that has switched to chemical engineering because of the boom that is occuring in Alberta right now. There is lots of money to be made there!

This shouldn't be a surprise to anyone. The invisible hand of free market knows best. The more expensive the oil, the more profitable alternative fuel research will become.

I absolutely do my part by driving my V8, all American muscle, wherever and whenever I can. The faster we burn through oil, the sooner we'll get to fusion.

I absolutely do my part by driving my V8, all American muscle, wherever and whenever I can. The faster we burn through oil, the sooner we'll get to fusion.

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I am glad that you're able to get an efficient economic return on a V8 muscle car!

Mandeville said:

I was a second year poli sci and history double major from Ontario that has switched to chemical engineering because of the boom that is occuring in Alberta right now. There is lots of money to be made there!

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Yes, this is what I mean too!

I almost never drive anymore. I spent a little extra in monthly rent so I can walk nearly everywhere I want to go...class, church, friend's houses, nightspots, etc. I also started to take the bus everyday to work, although thats more because parking is 10 bucks a day than gas (since its only about a 10 min. drive away)

I don't think I've changed my habits significantly (at all?) during the time it took gasoline to go from $2 to $3 per gallon... but then again, I don't generally drive much, when I worked over the summers, I worked at places that were less than a mile or two from my house, and I don't drive at all on campus.

I'm gambling that nuclear power will be a significant part of the world's energy for quite some time to come; we can have all the electric cars we want, but we've got to generate the power somehow. Granted, I chose nuclear (and radiological!) engineering as a major strictly because it sounded awesome.

I have no driving habits, so I can't change them.

I'm using less electricity mostly because summer's over and I'm no longer getting hosed with special summer electric rates. And also because I'm just using only one room most of the time in my tiny apartment.

It would be a good investment pick if we get more companies rolling on the alternative energy track and I'll take a gander at them later on when I have more to invest.

I'm paying about 4 dollars / gallon right now. It hasn't changed a thing. I've always used pubic transit going down town and I only drive to the store when I'm buying a lot. I can't avoid driving to work.

I pretty much don't drive anywhere. I refuel my 15-gallon tank about once every 2 months.

Exciting new age of immobility we live in, isn't it?

We're putting The Jetsons to shame.

El_Machinae said:

- researched into how to reduce your fuel consumption?

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Yes, I drive more highway than city miles.

El_Machinae said:

- actively reduced your fuel consumption?

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Yes, I walk to local bars/stores.

El_Machinae said:

- invested in ways of reducing consumption (e.g., changed vehicles, insulated the house, etc.)?

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I bought a new vehicle, and my choice largely was based around gas mileage and emission levels.

El_Machinae said:

- purchased alternative energy sources?

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No, but I have been researching making a solar or wind powered source for my backyard, to power our porch lights (which are on all the time... damn alchies )

El_Machinae said:

Economic theory states that people will move towards alternatives (or reduce consumption) as prices increase.

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It also states that the price elasticity of demand for stuff like oil is pretty inelastic, hence the not-so-huge demand/usage response to price changes.

El_Machinae said:

Have you:
- researched into how to reduce your fuel consumption?
- actively reduced your fuel consumption?
- invested in ways of reducing consumption (e.g., changed vehicles, insulated the house, etc.)?
- purchased alternative energy sources?
- invested in Alternative Energy markets?
- actually offered services (i.e., became a supplier) related to the provision of Alternative Energy or reduced energy consumption?

Click to expand...

I'll admit that gas prices will have to go up a few dollars more for me to even think about altering my driving habits, and I think that applies to many Americans to some degree or another.

All in all, my energy costs are fairly average. I can't say I'm interested in oil conservation, given the MPG of my cars, but I don't waste energy either: I keep my house buttoned up and run the heater/appliances only when needed. Only real exception is my internet-surfing computer that is almost always on, but it doesn't really chew through a significant amount of power.

I have actively reduced my consumption since I don't own (or need) a car. I use a car sharing program, walk, take the "el" and cabs. The light bulbs in my house are fluorescents. In both cases, it's saved me a lot of money so it's not quite altruistic on my behalf.

In the meantime, I'm invested in a solar, solar wafer and wind turbine businesses.
I'm looking for a water biz to buy and also looking at buying the Climate Exchange again....it's come down a lot.