Demand reduction:
Gas prices are going up, and they will likely keep going up. Whether it's because of supply, political instability in producing countries or wholesale price speculation, is really besides the point.
The real problem is over-reliance. After the Katrina shortages and accompanying price spikes, this fact was starting to sink in. But then the prices went down and we put our heads back into the sand. (Hummers are selling like hotcakes, sales are up over 200% in the first quarter of the year.)
$5-a-gallon gasoline prices are coming and it won't be a pretty picture as far as the overall economy goes, (not to mention international politics) but at least maybe we'll finally start developing alternative energy sources and stop buying Hummers.
