A good point made on The NewsHour regarding addiction to oil:

[Ilsa]

One of the consumer behavioralists said that one reason why people are taking so long to adjust their behavior to rising gas prices is the fluctuating cost at the pump. They were unhappy when it hit $3 a gallon, and planned to make changes. And then it pulled back to say, maybe $2/75, so they abandoned their consideration of changing their behavior because it is inconvenient to do so. Now it is as high as they have ever seen it, and they say they may change behavior, but will they resume the old behavior if the price goes down again after Memorial Day? Or after Labor Day?
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In other words, maybe Congress needs to also be investigating how the oil companies are pricing up and then down and then up again at the pump.

[iamjoy]

1. We Get Used To It, Also

I don't think there is any need to investigate fluctuating prices, with oil topping $130 a barrel it makes sense that gas is more expensive. The high cost of oil can be explained at least in part by the weak dollar. Supply and demand plays its part. I don't think it is all speculation and games.

We get used to it. We have short memories. It was only ten years ago that gas was only a little over a buck a gallon. We squealed a little when we saw $2 a gallon a few of years ago, but we kept buying it. Now, we're so accustomed to paying more for gas that we don't really remember complaining about $2 a gallon. We use all kinds of justification for wasteful behavior. Most of it is self gratification and yes, I am guilty of it to an extent (although I don't drive an SUV).

People will go back to the old wasteful way just because it is more comfortable for them and they will have come to accept these prices. They'll say, well what am I going to do, I like my lifestyle, I work hard for my comforts and luxuries.

In other words, we're the frog and gas prices are the slowly heated pot of water. Most of us won't jump out of it.

[Nay]

2. Also, I hope behaviorists are taking into account the fact that many

people's gas usage is relatively inelastic -- they have to get to work, there is no bus service, etc. Certainly a lot of ppl are already combining trips, cutting back on optional trips, etc.

The idea that everyone will dump their larger cars and trucks immediately is crazy. Why? Because new cars that get decent mileage start at $20,000 or so, and that amt of money puts A LOT OF GAS in the paid-off cars they already have. That doesn't even take into account the credit crunch that is keeping many ppl from even trying to borrow for a car.