This weekend, the average U.S. price of a gallon of unleaded gasoline rose to $4.00. This is obviously the number one topic of conversation among Americans. The unprecedented headlines of the pricey pump have surpassed the Iraq War and the economy, and grabbed the top story spotlight.
Why, when Friday, June 6, the economy was the top story with the Dow down for
the week nearly 428 points, erasing Thursday's surge, and figures showing the number of jobless Americans on the rise being released, the highest indicators in 2 decades. Yet, the subject of the economy is softened, as we're no longer hearing rumblings of recession being forecast. The Iraq War is not as hot a topic since as unpopular as this present conflict is, the "Surge" appears to be reducing casualties and suppressing Al Qaeda and militant aggression.
The cost of petrol affects every Tom, Dick and Harry in this country. And, it affects them where it hurts, in their pocketbooks. It takes dead aim at the average American's lifestyle, and that hurts because most of us have gotten used to being comfortable. And, when John Q. Public comes nose to nose with the pain of an ever-decreasing number of dollar bills in his pocket, he starts to sound off about it to anybody that will lend an ear.
Tycoons, politicians and influentially powerful people have perfected the use of public fear in directing public response to their benefit. What has me perplexed and admittedly a little fearful is why Congress and lawmakers in general are throwing their arms up in futility. People depend on these leaders to deliver them that aforementioned lifestyle that they have long since come to believe is owed them, and they want to maintain it as their legacy. Whatever happened to the Public Service Commission? Aren't there any laws to govern high gas prices?
Where are the price ceilings when you need them?
Meanwhile, is it just me, or were the Congressional hot seat hearings a week ago for the oil barons regarding record profits, just a "make it look good" fandango? Did you buy into the excuse that it was speculators in the stock market causing crude to escalate. Hello-o-o-o-h!!! Would it ever be possible for oil barons to pay speculators to jack up the market price? Do you think petroleum company executives would ever "song and dance" U.S. Senators? If speculators are the problem would it break down the entire free trade world to put limits on public trade of crude oil?
However, the stock market doesn't dictate gasoline price hikes. That is mostly dependent on the refining of crude oil. And basically, big oil has only been operating 3 refineries in this country for the past decade. If you only refine a limited amount of distillates, it doesn't matter how much crude you purchase, and the cost of crude is lessened in importance.
Basic economics will teach you, if you limit the supply side, the demand side will increase in nearly direct proportion. If our legislators examine oil company profits the past 2 years, refinery control will stick out like a gigantic red flag. Perhaps in the short run, maybe some legal controls could be created to influence the executives to use some of those exorbitant profits to build new refineries.
Until new energy sources reach the usable stage, lawmakers should enact heavier penalties to prevent companies from buying up patents and processes from new developers to prevent more efficient uses of petrol or alternative propellants. It is humorous to me when automakers decry cars that are efficient and obtain 32 mpg. When petrol has increased 70 percent over 2 years, those auto giants should be shouting about efficiency machines achieving a minimum 42 mpg.
It is just the idea of total futility that irritates our average citizenry most of all. Where is hope in this equation? Somewhere between the death of John Kennedy and, “Ask not what your country can do for you, ask what you can do for your country,” and the President George W. Bush era our powerful leaders have in some way lost perspective. This country used to have the reputation, “if there's a will, those "Yanks" will find a way! They didn't throw up their collective arms and say, “What can we do, gasoline is likely to go to $10.00/gallon.” They certainly didn't stand idly by and let J.P. Morgan dictate that is what will happen within 2 years.
Well, one answer is staring each and every one of us in the face. On the internet over the past year, has been the suggestion of one former Exxon/Mobil executive. He suggests that if each of us boycotted Exxon/Mobil gas pumps, the American public could take the issue of high-priced gasoline into their own capable hands.
