There is great speculation that rising gasoline prices this spring will lead to a decrease in demand as consumers have to spend more of their budget on filling up their tank. Though gas prices have been high for some time, the article claims that with the threat of a recession, consumers will be more conscious of price. It will be interesting to see if consumers 1) change their driving habits to save on gas, 2) cut back on other products to be able to spend the same on gas, or 3) if we continue to spend on both gas and other products despite the high prices.
Also, even if Americans cut back on consumption and demand stays stagnant in the US, the Middle East and China will continue to drive up demand which means prices are going to rise. With this situation, John B. Hess claims there is "[a]n oil crisis coming in the next ten years" due to both demand and supply.