Who’s To Blame For High Gas Prices?

Have you heard somebody ask this question recently?  If so then you probably took them aside and explained to them that no single individual could be blamed for rising fuel prices.  Obviously it is an issue of supply and demand.  Global demand has now grown larger than global supply, which you can learn about in this article.  Though some people in the US claim that allowing more drilling in pristine wilderness or in the sea will somehow lower gas prices, all available information points to the fact that there is not enough petroleum under US territory to seriously augment global supply.  The only thing to be gained from more oil exploration and production in the United States is corporate profits, campaign funding, and degraded wilderness.  Conservation and the use of non-fossil fuels is the best means of making gas prices fall, but as the developing countries increase their standard of living they will continue to demand more cars and more luxuries.  Afterall, just remember what plastic is made out of!

So, supply and demand affect prices.  This is a simple economic concept that most people have heard of and understand.  It is a feature of the economy.  However, one Tea Party affiliated group has decided to ignore reality and try to blame market forces on a single individual.  Rather than explain it all to you, I’ll encourage you to read this blog by Brian Merchant,

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This entry was posted in A Simple Explanation, Economy, Energy, Recession, United States. Bookmark the permalink.

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