Gas Prices

[RWilson2526]

So I've always been fascinated by the fluctuations in gas prices. I know the underlying principal that drives prices is supply and demand but its not always easy to see that when it really seems that it is just the mere THOUGHT of a lack of (or in today's case an abundance) of supply that drives traders to either buy or sell oil which is what moves the price of a barrel of oil.

I read once that trading oil as a commodity was a necessity in that if there was a perception of a shortage looming from war or whatever it would drive the price up, reduce the demand and when the actual shortage did happen the swings wouldn't be so severe. Of course when the shortage doesn't actually happen we just paid 10% more for gas with no real reason. Necessary evil?

So anyway, we the consumers can be nothing but happy paying half as much for gas today then we were mere months ago.....but now of course the talk starts about doing overall damage to the economy by hurting the oil / fracking industry and lessening our chances of oil independence.

Granted if you are an oil driller in North Dakota right now you have to be worried about your job as from what I read they can still make money getting oil out of existing wells for the time being but wont have the money in it to start drilling new wells. Apparently fracking wells also dont have the lifespan of typical wells either.

But at the same time, in 2013 the US consumed just north of 134 billion gallons of gasoline. at $3.50 a gallon thats $469 billion. Now at gas approaching half of that the US consumers are looking to save 200 billion +. That money is not going to disappear from the economy, its going to get spent some where else. It would seem to me the money will just get redistributed from the energy sector to other sectors.

I guess the long and short of what I am asking is what your guys feelings are.

Either

A: F*** the oil industry, I want as much money in my pocket for other stuff.

B: I'd be willing to pay more for gas that allows us to continue domestic production and advance renewable technologies.

I'm thinking A at this point.