All things constant...

Breaking news! Free markets might actually work! That pesky thing known as supply and demand that's been around for hundreds of years might actually hold merit!

Strange I know!

Businessweek is reporting that there is a drop in use of gas, assumed to be related to high gas prices. (A synopsis of the article here.) At least I know that's why I don't take an extra three trips around the block for simple amusement anymore - I don't particularly enjoy feeling the need to scream "WTF?!" every time I go to the gas pump.

But seriously, who could have possibly thought that when people finally realized they are being sucked dry by taking those weekend trips to Dairy Queen that they might, oh I dunno, STOP taking unnecessary trips.

And although the demand for gas is pretty inelastic, as we all need to drive to get to work, etc., when it comes to sacrificing a first-born to pay for gasoline, it turns out that people aren't so willing.

From Reuters: "Perhaps the ultimate answer to how high oil prices need to go before demand destruction occurs is derived from knowing when American consumer will stop buying gas guzzling sport utility vehicles and instead seek fuel efficient alternatives."

Screw my PG Rating: Damn you, SUV drivers. I still like you as people (unless you are trying to come into my lane on the Interstate and totally don't look and almost squish me in my Civic), but I really hate you as drivers right now. I hate that you drive up the price of gas with your incessant demand for the product and then complain because you will have to sell your other kidney to get enough money to fill up the next time. Cry. Me. A FREAKING. RIVER.

It's a sad day when it takes more then $30 to fill up my gas-sipping Honda. It's sad when what I pay for gas every month is getting close to the same amount I pay for rent. It's sad that every time I want to go on a trip to see my father who only lives a few hours away, I actually die a little inside thinking of how much it's going to cost me in gas.

Somewhere, Alan Greenspan is watching us and giggling like a little schoolboy.


Note to Self: And here I thought they just used undergrad ECN classes as a form of torture! Good to know it's actually of some use. Too bad I slept through most of it.