critique on gas prices

First of all the economic relevance of this article is almost perfect for the purpose of this assignment, so listed by Dr. Kassens’ purpose for the assignment instructions. “It is crucial that you are able to apply the concepts covered in the principles course to the world around you.” The reason it is so appropriate is that gas prices affect just about everyone. Especially poor college students who are learning about economics. But commercial drivers and commuters to work and school are affected just as much as these college kids and this blog post makes a not of that and does well to point that out. However there are plenty of alternate energy sources to be used. The problem isn’t scarcity because there are plenty of alternate energy sources, but that oil is such a money making machine that no one will willingly invest in these other sources. I am no expert whatsoever so I read this and am inclined to agree with most of it because I would not know how to contradict it. Explaining about how the prices for gas affect elasticity of supply and demand is very informative and useful information in proving a point about the crude oil market. “I think that if a substitute was found for gas, the overall economy at the micro and macro level would face much less hardship. Businesses would be able to produce more at less cost and households would be able to spend more money on necessities and even leisure items.” I really hope so. I like buying what I want instead of pouring my wallet into my gas tank all the time. This blog post makes very good use of many of the ideas terminology, and concepts that we have been learning about at 8:30 every morning for the past month. I’m sold by reading this article and if someone who read this knew nothing about econ they could probably learn a thing or two. If I had to grade this I would say A to the writer and anyone who read it critically.