The possibilities for summer fun are endless: going to the beach, going out with friends, going to summer school or just being lazy and staying home. However, only one of these won’t wear out your walking shoes if gas prices keep rising.
For gas prices, 2011 has been following the trend of a steep upward-climbing roller coaster.
National Gas Average reports an almost 90 cent increase on gas price average from the beginning of the year to May. Will this average continue to climb, or should the government step in to control the gas price market before consumers become broke?
According to the Sacramento Bee, the death of Osama bin Laden was believed to have a positive effect on crude oil prices. But, some believe his death may also cause a retaliatory action toward crude oil supply and raise prices from our suppliers in the Middle East.
The company AAA reported that Japan is the third largest consumer of crude oil and prices were expected to drop following the earthquake in March because of the decrease in demand. That didn’t happen. Instead, John Hofmeister, former president of Shell Oil, believes that Americans will be paying five dollars per gallon by 2012.
So what’s up with gas corporations not making up their minds even with all these horrible things going on in the world?
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The corporations, therefore, are the root and cause of the problem.
Fingers can be pointed to the businessmen of Wall Street who are treating the national energy crisis as a way to make their wallets fatter. Investors are putting their money into oil as a profit machine, effectively making energy stocks only for the super wealthy.
Meanwhile, the profits coming out of stocks are skyrocketing because consumers have no choice but to pay for higher gas just to do everyday activities like commuting to work and school.
Government intervention to prevent oil being treated as a wholesale commodity is believed to drop gas prices to at least $3.50 a gallon by summer, according to analysts. The national average right now is $3.97. One way to force the government into action is to make a nation-wide stance against high oil prices.
Calling our congress men and women and telling them to monitor the market for our own protection could save us hundreds in the long run.
I mean, how long should we remain silent? Until one, well-placed hurricane destroys a drill in the Gulf of Mexico this summer? We have to act now before another natural disaster drives prices up to the five and six dollar mark.
Say no to high fuel prices. Sign a petition today.
