Since it's back in the news, I can jump back on the high gas price kick. Here are two related stories:
1) From Breitbart: OPEC can't bring down prices: cartel president
OPEC is unable to do anything to stop surging oil prices, the cartel's president Edmund Daukoru has said.
"There is no shortage in oil supply. The current geopolitical conditions are out of OPEC's hands," the visiting Nigerian petroleum minister was quoted as saying by the Iranian oil news agency Shana Thursday.
2) Again from Breitbart: Exxon Mobil 2Q Profit Jumps 36 Percent
Exxon Mobil Corp. said Thursday it earned $10.36 billion in the second quarter, the second largest quarterly profit ever recorded by a publicly traded U.S. company.
The earnings figure was 36 percent above the profit it reported a year ago. High oil prices helped boost the company's revenue by 12 percent to a level just short of a quarterly record.
So who's to blame for high gas prices?
Traditional thinking would say that OPEC is lying. They are a cartel and they can control oil supplies. If they increased oil supplies prices would go down. That's simple economics.
But something in me believes what Daukuru is saying. I don't know why, but I just don't think that OPEC has the power right now to significantly control oil prices. Too much political turmoil. Daukuru says as much:
World oil prices rose above 74 dollars per barrel on Thursday, supported by strong demand for motor fuel in the United States, supply disruptions in Nigeria and also by continuing violence in the Middle East.
So I'm going to chose not to blame OPEC right now...too easy. So who does that leave?
The reactionary in me wants to blame Exxon. Greedy sons-of-[bleep] are earning record profits while I have to pay $65 to fill up my minivan or SUV. How can they exploit me like that? But, if you were head of Exxon, wouldn't you sell gas for as much as you could? I would. They're not forcing me to buy the gas. I'm buying the gas by choice. Sure it's inconvenient and pisses me off to have to pay so much but that's my choice.
If I really wanted to start paying less for gas, I would change my habits. I drive gas guzzlers, I live in the suburbs and commute on congested roads to work. I drive the kids to school, to soccer, to softball, to gymnastics, to friends houses. I vacation far away and drive my gas guzzler to get there. I refuse to go out of my way to save $.05 a gallon, and I refuse to ride my bike more because damnit my time is too valuable. In other words, I am American. The only non-sterotypical American trait I have is my BMI is 25. That's right, I'n not overweight. Other than that I am the fast-food eating, gas guzzling, USA chanting American that the rest of the world hates.
I'm here to stand up today in front of all of you and admit it...I am the problem. I am why gas prices are too high. And if I cared more, I would probably change my habits. But I won't. I know I won't beacuse I've had the chance and chosen not too. I live a life of convenience, and I'm willing to suffer higher gas prices for that convenience. It's going to take a lot more than $3.00 a gallon for me to change.
And I have a feeling I'm not alone.
Whew...that felt good.
