what would happen if we were to stop buying gas at this price?

Question

do you think it would go down or will it stay

as in if we to do it for more than a mouth or two i think that they will stop and we could ride bikes and then we would get more fit and we could stop people for getting fatter cuz they would have to walk or ride a bike and lose weight

Answer 1

If America stopped buying gas, no one would get anything done, too many people own vehicles and have to commute large distances to work, school, etc. Looking at it from a supply/demad standpoint, yes, initially prices would drop, in order for the market to reach equilibrium again, crude oil prices wouldn't suffer too much because it's used for more than just gasoline, meaning oil would still have to be purchased at high prices, but gas won't sell, and sellers would leave the market. Being that we didn't shift the demand curve (no elimination of demand, only artificially moving along the curve) once gas prices returned to something people would pay, the demand would be high and sellers would reenter the market essentially rebalancing the market and getting us back to where we started.

Long term lower prices are going to have to come from the sellers end (more sellers, more competition, more competition, lower prices) or the buyers end (less people relying on cars, gas, etc., less people buying, less demand, same supply, prices fall, sellers leave the market, but equilibrium price is theoretically lower) or from technological improvements (such as higher gas mileage cars, alternate fuels, oil refining techniques) or from simply increasing the supply of oil (finding new oil deposits, more drilling, etc.) which is a controversial issue, some say there are no deposits we don't know about, some say there is more oil we merely need to find it, or drill more of it up.

Hope that helps.

Answer 2

Those E-mails you may have seen that urge people to stop buying gas for one day don't work. Even if everyone in the U.S. stopped buying gas for one day, the oil companies know we'll be back very soon to fill up, so they'll get their money. We're way too dependent on gasoline, so until they come up with a better alternative like E85 ethanol or Bio-Diesel or fuel cells or something, we're at the mercy of the big, greedy oil companies.

Answer 3

I've seen these blogs saying EVERYONE STOP BUYING GAS on some date, Its not going to effect the oil companies, those companies have alot of money its going to take everyone in the world to stop buying gas for at least a week to even get these companies attention, thats impossible.

Answer 4

If we all stopped buying then the price would go way down.The laws of supply and demand take place.But,I don't think that would work out for long because it's not possible to do that for any length of time.Keep thinking though,you'll figure it out sooner or later.

Answer 5

in the place of gas from the pump, what would you use ?
there are not many gas stations available with any other source of fuel. you would buy what is necessary to accommodate your car, and your life style.
the only way to bring prices down is to get the price of the barrel of oil cheaper, where its bottled for the consumers.

Answer 6

No. I think "we" would not be able to get to work or to anyplace else that involves more than a short distance trip. We would be back two centuries growing vegetables and raising chickens in out back yards.

Answer 7

It would go down in a HURRY.

It's called supply and demand.

Too much gas, price down
Too little gas, price up

Answer 8

I think if you stopped buying the gas, your car would stop running.

Answer 9

Check this out
http://www.truckblog.com/story-1162-zeroemission_electric_truck_coming_in_2007