Chronicle-Tribune (Marion, IN)
Section: Editorial
Page: 6A
Copyright (c) Chronicle-Tribune. All rights reserved.
August 22, 2006
Gasoline should be regulated like utilities
I believe that the prices that are being charged for gasoline are damaging the U.S. economy in ways that are difficult to quantify in the short term, but will lead to economic calamity in the long term.
Gasoline has become a commodity that is critical to the normal life of the American people and should be valued and regulated in the same manner as electricity.
The demand for gasoline is growing daily due, in part, to the American love affair with being able to travel when and where we each want.
When I was young, folks only went to town when it was absolutely necessary, which tended to be maybe weekly, but probably only a couple times a month.
A return to that way of living would be a monumental change for all of us, but that may be necessary if things keep going in the same uncontrolled di-rection.
In the meantime, until we can get back to traveling only for essentials, there will be some companies (and investors) that will profit mightily from our addiction to being able to travel in comfort when and where we individually want to go.
Don't blame the Arabs, though, or any of the other countries that pump oil out of the ground and sell it to the world because they mostly only have control over how much of the stuff they pump out of the ground anyway.
They really don't have much control over the actual price of the stuff. That price is settled by the traders on the market.
Energy traders on the stock market, futures speculators, brokers. Those are the individuals who have the greatest influence on the price of oil.
The end result is that we, as consumers, are basically at the mercy of a bunch of people who are trying to make money. Personally, I have no problem with the desires of any of these individuals to live comfortably.
However, the profit statements of the companies in-volved and the public information regarding the compensation packages of their executives would seem to indicate that these guys intend to live like some kind of rock star.
To accomplish this by creating a major alteration of the living standards of a great portion of the American people, now I do have a problem with that.
Mike Pefley, Marion
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