Can anyone believe how much the price of gasoline has gone up? The price has gone up, almost exponentially, within even the past few months. The gasoline companies and oil exporters claimed over eleven billion dollars in profit the last quarter. Does anyone want to stop this? Various oil companies have claimed that because of scarcity of oil and the difficulty involved to get the oil, the prices have gone up. However, recent studies have shown that oil is not in short supply. The demand of oil goes up, and that’s normal; everyone needs the product. However, the oil companies have found ways in dealing with this demand: They only produce a certain amount of oil, thus raising the gasoline prices for everyone else. If oil is in such short supply, then why does everyone seem to have it? It’s only in short supply because the companies that produce the product make it in short supply. The less oil that exists, the higher the demand, then the higher the price of a barrel of oil. It reached over $100 a couple of weeks ago. That’s insane; especially when there is so much of it to go around. Oil is not completely absolute as of yet. We use it in everything from gasoline to plastics. I believe that oil companies see the end coming, however. With the invention and somewhat success of “smart” cars, hybrid cars, vehicles that run entirely on battery power, and the infusion of ethanol-based fuels into the marketplace, the oil companies foresee a future without the high demand of gasoline. However distant this future is, it seems very close to the oil companies. It seems to me that they are cashing in one last time. It appears that they are milking this “cash cow” for all it’s worth. And nobody stops it. Minimum wage has stayed the same many years. People have to keep up with their gasoline consumption and as a result, have to sacrifice other luxuries and sometimes even sacrificing necessities. And it’s not just the gasoline prices that are affected. The price of food and other products that the public cannot do without is going up. Transportation, such as airplane tickets and delivery trucks, has to raise their prices in order to keep up with the gasoline prices. It seems funny to me that even though gas stations bought their gasoline when the price of a barrel of oil was $80, as soon as the cost of a barrel goes up, they raise their prices. Even though, mind you, that they bought that gas for much cheaper than what they are now selling it. If they bought the gas when the cost of oil was increased, it is understandable. However, as soon as it’s raised on Wall Street, they think they can automatically raise the price at the pump, without ever buying a barrel at the price they are selling it. We all need oil. It is the lifeblood of a developed nation. Boycotts on the product have not worked because people need to gasoline. Our society cannot function without it. Government regulation is the only way to stop this travesty. We need alternative methods of fuel, which seem to be slowly coming, and there need to be stricter rules and regulations on oil. People need to realize that there is plenty of oil in the world. Plus, if we invaded Iraq because of their oil surplus, as many people now say that we did, why are the prices going up? Shouldn’t they have gone down considerably? -Cheers

Can anyone believe how much the price of gasoline has gone up? The price has gone up, almost exponentially, within even the past few months. The gasoline companies and oil exporters claimed over eleven billion dollars in profit the last quarter. Does anyone want to stop this? Various oil companies have claimed that because of scarcity of oil and the difficulty involved to get the oil, the prices have gone up. However, recent studies have shown that oil is not in short supply. The demand of oil goes up, and that’s normal; everyone needs the product. However, the oil companies have found ways in dealing with this demand: They only produce a certain amount of oil, thus raising the gasoline prices for everyone else. If oil is in such short supply, then why does everyone seem to have it? It’s only in short supply because the companies that produce the product make it in short supply. The less oil that exists, the higher the demand, then the higher the price of a barrel of oil. It reached over $100 a couple of weeks ago. That’s insane; especially when there is so much of it to go around. Oil is not completely absolute as of yet. We use it in everything from gasoline to plastics. I believe that oil companies see the end coming, however. With the invention and somewhat success of “smart” cars, hybrid cars, vehicles that run entirely on battery power, and the infusion of ethanol-based fuels into the marketplace, the oil companies foresee a future without the high demand of gasoline. However distant this future is, it seems very close to the oil companies. It seems to me that they are cashing in one last time. It appears that they are milking this “cash cow” for all it’s worth. And nobody stops it. Minimum wage has stayed the same many years. People have to keep up with their gasoline consumption and as a result, have to sacrifice other luxuries and sometimes even sacrificing necessities. And it’s not just the gasoline prices that are affected. The price of food and other products that the public cannot do without is going up. Transportation, such as airplane tickets and delivery trucks, has to raise their prices in order to keep up with the gasoline prices. It seems funny to me that even though gas stations bought their gasoline when the price of a barrel of oil was $80, as soon as the cost of a barrel goes up, they raise their prices. Even though, mind you, that they bought that gas for much cheaper than what they are now selling it. If they bought the gas when the cost of oil was increased, it is understandable. However, as soon as it’s raised on Wall Street, they think they can automatically raise the price at the pump, without ever buying a barrel at the price they are selling it. We all need oil. It is the lifeblood of a developed nation. Boycotts on the product have not worked because people need to gasoline. Our society cannot function without it. Government regulation is the only way to stop this travesty. We need alternative methods of fuel, which seem to be slowly coming, and there need to be stricter rules and regulations on oil. People need to realize that there is plenty of oil in the world. Plus, if we invaded Iraq because of their oil surplus, as many people now say that we did, why are the prices going up? Shouldn’t they have gone down considerably? -Cheers

This entry was posted on Thursday, March 6th, 2008 at 4:15 pm and is filed under Andy Mitchell.