My Thoughts on Rising Gas Prices
“Oil companies want you to be their gasoline-addicted junkie.”
Today, U.S. gas prices have reportedly hit “an all-time high.” What’s remarkable about this is that….this news shouldn’t be remarkable at all. In fact, given gradual prices increases (inflation) over years-decades-centuries, virtually all commodities and services should cost more right now than ever before.
All currencies, not just the US dollar, lose their buying power over time. An item that cost $1 ten years ago will cost $1.35 today. And ten years from now, that same item will cost $1.70 (maybe more or less, depending on many factors). Your monthly rent, a Snickers bar, a pack of Hanes underwear, and a gallon of gas….all things gradually go up in price over time. That’s the way it works.
The so-called “free market” is a system of ebbs and flows. Nothing rises on a perfectly ascending straight line. But there is an unmistakable and unwavering arc on the cost of all things over time. This is especially true for commodities with limited supplies (like oil). Fact: There’s only so much oil buried in the earth. As the supply inevitably diminishes, what happens? Prices go up. That’s the way it works.
Of course, the world’s oil doesn’t flow on a continuous supply line. Oil-producing nations collude to fix prices, giant oil companies aim to maximize their profits, wars and natural catastrophes sometimes interrupt production and delivery, market supply and demand fluctuate (such as during COVID), embargos are imposed or lifted on some producers, and even technology changes. All of these factors contribute to price instabilities. Oh, and whoever is the President, Prime Minister or Pope really has very little impact on gas prices or the global oil supply. The party in power has almost no impact on gas prices. In short, no one ever promised you $2 per gallon gas at the pump for the rest of your life, and if you really thought that’s the way economics works, then that’s on *you.* That’s the way it works.
Here’s one thing that won’t bring gas prices down — bitching about it. Do you really think America’s biggest oil companies sympathize with consumers? Oil companies have bled consumers at every opportunity. Oil companies have repeatedly lied to the public. Oil companies have funded quack research to undermine real science on man-made climate change. Oil companies are also on pace to earn RECORD PROFITS this year. Unfortunately, that won’t change in a market-driven economy with unscrupulous and insatiable demands for profits no matter the cost of the crisis, which is just one reason why we need to start discussing the complete nationalization of the energy sector (but that’s another topic for another time).
So, what can we do? Here are a few ideas:
(1) Quit driving so much — do you really need to spend 15 minutes idling at Starbucks with the heater blasting the entire time to buy the $7 cup of coffee?
(2) Stop buying gas-guzzlers — did you really think gas would always be $2 a gallon when you bought a Hummer? Decisions have consequences. You aren’t entitled to anything.
(3) Use mass transportation (or at least take it more often) — most cities have mass transit systems. If higher gas prices really burden you, there are alternatives. Use public transportation. Having lived in some cities with excellent mass transit systems, I never understood why anyone felt so entitled that they just had to drive their car every day. If you insist on driving all the time, that’s on YOU.
(4) Ride a bike / Take a walk — I know, this is unthinkable for a fast-food nation with a 30 percent obesity rate. This doesn’t mean riding a bike to work every day in the rain, but there are certainly times when we can use bikes and walk more. Having bought two electric bicycles this past year, we ride them all the time, even to run errands.
(5) Next time you move into a new apartment or buy a home, think carefully about location — People driving 25 miles back and forth to work each day is a uniquely “American thing.” No one in the rest of the world does this. Increasing populations, more crowded cities, rising energy prices, and environmental impacts makes current driving habits completely unsustainable.
Finally, I argue that if many of us do each of things (at least more often), many of us will be healthier and happier in the long run. Who doesn’t think that’s a terrific idea? Remember that short period a few years ago when people stopped driving all over the world, and nature enjoyed a short comeback and made a brief explosion? There’s a lesson there someplace. Ironically, with less demand for gasoline, prices (or at least prices increases) will gradually come down.
As for being addicted to oil and gasoline — quit feeding the beast. Oil companies want you tethered to their whims. They want you to be a slave to the pump. They will do anything to keep you addicted to gasoline. They want you to be their oil-addicted junkie.
Think about that, and then DO SOMETHING.
