Gas Prices are Stupid...Someones Getting Stupid Rich...

Umm hello, besides a 30 second foot note on the nightly news is anyone truly investigating the price of gasoline or should I say the price of crude oil? Its ironic that though Egypt controls most of the Suez canal and for a minute media hysteria pointed to a resulting increase in crude oil prices due to the country's internal conflict. Well that's relatively over, at least its not making the news, now a new crisis in the middle east has arose. Libya Africa's chief oil exporter is now under serious revolution with a leader proclaiming no intentions of leaving. This crisis has no foreseeable end date and most media reports (as short as they are) indicate crude oil can only continue to rise in price. Really? Why? Libya exports exactly 5% of its crude oil to us. (see Us Dept of Energy). From a business perspective and believe me people, all world leaders are business men, why would they really cut the oil supplies? If they are not selling oil they are not making money and something tells me, Libya will not risk its ridiculous wealthy position to prove a point to its people.
Back to our oil prices. SO we have been hearing for years that the US is the largest consumer per capita of crude oil etc. etc. and now we are being told that because Libya is at war, a country most have never heard of and could not locate on a map, we should expect gas prices to continue to rise. That makes exactly no sense and the saddest thing is that most people just sigh and say how terrible it is that the middle east is making our gas prices high. What is actually true is oil prices are set by OPEC a very powerful committee composed of oil rich countries and businessmen. What is also true is that most of US oil comes from Canada and Mexico (see US Dept of Energy) which is quite a ways a way from the conflicts in the middle east. What is also true is that big oil companies dictate the price at the pump to ensure their profits continue to rise. Has anyone noticed that through any crisis, anywhere the oil companies continue to make profits? The only ones who actually pay the price are the people who pump their own gas everyday and struggle to the pay their heating and lighting bills. Its no wonder that most politicians knee deep in the favors of the oil companies will lay down and die before they agree to consider alternative energy sources. It would cut off the liquid gold that made them beyond wealthy in the first place.  Perhaps someone should look up how much money oil companies donate to politicians and PACS and how many media outlets they outright own perpetuating the myths that "we" the people (anywhere) have anything to do with the excessive rise in gas prices.

Nina Davis

 

see: US Dept of Energy, http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/company_level_imports/current/import.html

US Dept of Energy, http://www.eia.doe.gov/cabs/Libya/Oil.html