November 24 2008 / by joelg
Category: Energy Year: 2008 Rating: 6 Hot
By Joel Greenberg
Gas prices have dropped to under $2/gal at some gas stations around the country. “It feels like the 1970’s, with people waiting in line for gas,” one observer says as she waited to fill up at almost half the price of what she was paying earlier in the year. But unlike the ‘70’s (or two months ago) there now seems to be plenty of supply.
So why are prices so low, almost two months after gas shortages in places like Atlanta, due primarily to Hurricane Ike? (Click here to read a twitter history of Atlantans and their search for gas.)
The simplest answer appears to be the low demand as a result of the slow down in the economy worldwide, according to the federal Energy Information Administration.
As Amory Lovins points out, we can lower our demand faster than Saudi Arabia can lower their production, although his idea is to lower demand with more efficient vehicles, not via a global economic slowdown.
Why is this important to the Future of Energy?
You’ve heard it time and again, “good things come to those who wait.” But you’ve also heard “the early bird gets the worm.” Who are you supposed to listen to? If it involves the Google Android smartphone, you probably should have waited.
“T-Mobile currently sells the G1 for $179.99 with a two-year contract, but Wal-Mart will offer the device for $148.88 to new customers or current subscribers who are eligible for an upgrade.” -Bonnie Cha, CNET
That’s right, Google’s Android which came out about a week ago, can already be found for about $30 cheaper. Jump the gun? Everyone did. But don’t let this get you down, if Android behaves a lot like the iPhone, a newer and better generation of Android will be out by next summer (and you’ll have a whole new reason to kick yourself).
It really just comes down to the battle between patience and the desire to be cutting-edge. Grab it early and you’ll be sorry, grab it too late and you’ll be a dinosaur.