gas price reduction

[manly]

What sort of economic repercussions do you think there would be if the oil companies reduced the price of gas by ,say, fifty,sixty or even seventy cents a gallon? Obviously, their outrageous profits would drop to possibly a sane but still outrageous level.Yeah, maybe instead of making 100 BILLION DOLLARS in profits they'd only make 40 BILLION DOLLARS. But wouldn't the economy take off like a rocket? You can see that I know next to nothing about economics (just like a real economist) but I'd like to know what your best guesses are, all you economic whizzes out there.

[Maggie_May]

1. I don't have to be

a economic whiz I am just regular Miss Joe and I have extra money to buy clothes food and maybe even catch up on that nasty credit card.

[classof56]

2. I'm no economic whiz...

but I'm pretty sure a big reduction in gas prices would go a long way toward assuring a Republican landslide in the 2006 election.

We'll see...

Tired Old Cynic

[OneTwentyoNine]

3. Problem is Oil exec's don't give a rats ass....

They'll take the 100 Billion in profit any day as opposed to 40 billion. Shit,they know your going to keep driving--or I guess you could just quit your job.

Oh sure,get out the bike. Yeah...if you work 30 miles from your house and its raining,snowing etc--Or like me work out of a cargo van.

Lower gas prices would for sure stimulate the economy but you have a class of filty rich bastards who just really don't care--as long as their getting theirs. We drove on vacation this year,blew a lot of tourist money in several states,gas has gone up forty cents per gallon just since then. We won't be doing it next year at these prices--or higher.

[Fovea]

4. a couple of ideas.

First, I can't think of a single republican since Nixon who advocates price controls.

Second, the days of suburbia as a bedroom for commuting workers is drawing to an end. People who work out of a vechicle may wind up living in that vechicle. I am sure by then, they will get a tax break for doing it. Others will either vote for mass transit, move closer to work, or work will move closer to them. Within the decade, commuting as now practiced will be dead.

Third, next year, consider taking the train to a nice tourist area like DC, and taking protest signs with you. I am not being sarcastic here.