3/21/2006

Right To Be Concerned With Oil Prices

As I read this blog on the high prices of oil, I must say I wasn't overly impressed with the article linked within it. The prevailing rate of gasoline is astonishing! I am in favor of some government intervention in regard to the price of oil we pay. I am not crying any tears for oil companies. They are not going to hurt financially, they just might be required by law to be a little less greedy, but they will still be wealthy! My demand for oil hasn't changed, but my ability to pay for it has. Whether it's turning on the heat, or having the ability to pay for a drive to St. George, my purchasing ability has gone way down because gas is currently $2.50 a gallon! What can I say, I'm out for the common man on this one, I hope that the government steps up and helps out its citizens. And for any that are worried about oil companies' profit ability, there will always be mounds of politicians that will continue to support them because of the incentives they offer through their lobbying and private jets, etc.
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1 comment:

Dr. Tufte said...

I'm not sure why people - Blake included - are always so hot to restrict the oil industry. This is not an industry that has a good track record of long-term profitability. What is it with picking on companies when they are doing well and ignoring them when they are doing badly?

I agree with Seth - I was (partially) wrong about California, and I too am willing to countenance investigations. However, I will also add that we had a crisis in California that year, and not in the other 49 states, because California's government designed a faulty system. I'm not sure that the energy companies are guilty of anything if their managers spot the suckers.

1:38 PM

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