Quote Originally Posted by epxroot
Yes, they did. Where were you when gas prices shot up to over $4 in my area? During that whole time gas rose to ridiculous prices AMerican stopped consuming as much gas. We found way to conserve when using gas, and our consumption dropped. Thats one of the reason Elkhart IN is in such a hard time right now. Their whole industry was in RV's, and since people stopped driving, no one is buying those RV's. It was also all over the news.
The 100% + increases in foreclosures accompanied with a collapse of the credit markets in October pulled prices into equilibrium. Whether or not that equilibrium is beneficial has yet to be determined, as the majority of retirement accounts contain energy based investment.

Which is why i agree with you. Less RV's, means less people making them, means less groceries, energy, and entertainment: this cycles into further job cuts.

Oil demand has fallen from over 1 billion gallons per day (20 million barrels) to about 900 million gallons per day. With a 10 to 1 inventory relapse possibility (every ten days our oil inventories can replenish one day of demand), cuts in world oil production took place.