Your assertion that low income people are not still taking unnecessary trips is wrong. Your assertion that discretionary spending has dried up is wrong. Your assertion that new borrowing is at an all time high is not correct (that was the housing bubble).
Any assertion that this is not the land of opportunity and ANY American cannot or should not improve their standard of living is stupid.
My assertion that the price will not come down unless: 1) there is an increase in supply; 2) and/or a decrease in demand is correct. Let's see what the consumption numbers are like. I bet they in no way reflect a secession in demand. The only way you could be correct is if there was no discretionary driving - I bet half the use of gasoline is driving around and going to tennis or seeing gramma or going to to the bar.
I can tell you in FL there are millions of cars on the road. We still have thousands of out of state plates. How many trips to FL are necessary. There are still millions of people cruising to Orlando. People love to complain, but they love their cars, and love to go places. I see nothing wrong with either complaining nor driving. I just find it insufferable whining when they do both. I started over a year ago talking to people at gas stations and watching their behaivors. Try it. They all complain but ask them where they are headed. Or where they are from. Watch the pop and smokes they buy. Ask them if they know we have massive deposits that are not taped. Ask them to compare the profit margins of MSFT and XOM. Ask them if they know the ratio of profits to taxes either at the pump or at XOM. Ask them if they would give upa six pack a week to buy XOM shares.
Wake up America. If you want lower prices stop driving or drill.
We’ll just agree to disagree.