Jul 31, 2008 8:18pm

Supply & Demand 101

Our Robert Krulwich almost always has a different take, or different approach. Like the rest of us, he’s been watching the precipitous drop in Americans’ gas consumption; unlike the rest of us, he found a cartoon character who could tell the story. Have a look.

User Comments

I’ll make this simple folks-
The government is now going to spin this crisis onto the public.
Coming from an oil family- let me lay it out for you-
We invaded Iraq for oil, the other countries thought we would have had it under control long before now. So instead of trading in the oil for food program, we would just have our own supply of oil from the middle east. DO YOU HEAR ME? GET OVER IT< INGEST IT< AND REALIZE IT IS TRUTH.
Once that didn't pan out, the market realized they could RAPE (yes, I saif the word rape) us on prices. (or as the market likes to call it, speculate) They speculate we are weak, we have wells in a country that is volitale being blown up and we …… still need oil. Mind you, all the while, americans were buying big old cars thinking it made them higher up, safer and with stature to boot. I drive a Yukon, I drive a Hummer, I drive a Expedition, don't you see my importance?
It was the governments greed that caused the initial specualtion.
It was the ignorant consumers greed that caused the rest. Everyone was so busy with their frivilous things, they never paid attention to what their government was doing. We now, as US citizens look like greedy a holes- the ones who didn't "get it."
Well guess what…. my family works in oil and government. Don't believe McCain, the man is so full of it you could cut it with a knife. More drilling is NOT GOING TO HELP YOU. NOT NNOT NOT. If you care about your kids, grandkids- get with the program .
From a Republican based family, in oil, half of us are blue collar and BOTH my pappy's are VIETNAM VETS.
Open your eyes and PAY ATTENTION .