I for one don't believe any of the stories about price gauging on the part of oil companies. I accept that price is set by "what the market will bear". But if I did believe in oil company price gauging I would do what most of us are already doing and reduce my demand for the product in question... fuel...
In Alberta [home of the tar sands...] we are being warned that there will be a price rise from $0.95/L to $1.50/L; a 58% price increase! For me that will amount to a $765/year increase in cost of fuel for driving, if I do nothing to improve fuel economy. However my plan for 2011 is to reduce my fleet fuel consumption by 30%. So If I succeed my cost of fuel for driving will only go up by $405/year.
Is this socialist, capitalist or home economics?
