Gas prices have been a point of contention for years, but particularly in the past decade. Gone are the days of “cheap gas,” but the days of skyrocketing prices don’t have to return. For too long, we have been embroiled in this back-and-forth game of big winners and even bigger losers. It would, though, be mutually-beneficial to reach a sort of ‘compromise.’
Tighten the Belt
High gas prices clearly benefit oil-rich nations, and also line the pockets of big oil executives and their companies’ respective shareholders. This, however, occurs at the expense of consumers, who are forced to cut back on other spending, skip vacations and meals out, and take the risky move of living without any savings or “rainy day funds” — thereby negatively affecting the bottom line for countless others.
Low gas prices are a win for consumers who finally have the funds for all those things just mentioned. The trouble is, greedy oil execs don’t like to lose money. On a grander scale, in countries that depend on oil revenue to thrive, it is often the poorest citizens that suffer most — forced to skip meals and work longer hours just to support their families.
Split the Difference
But it only takes a little ‘give’ on each side to reach a sort of common ground. For instance, if gas prices were to remain constant at, say $2.50 per gallon, oil execs and dependent nations would still make ample profit without breaking the backs of the average Joe and Jane.
No one would get filthy rich, but no one would get dirt poor, either. Oil-dependent countries win. Oil-executives win. Rich, poor, middle-class people win. And America wins.
Of course, this pipe dream will never come to fruition, but it is a point worth mentioning.
by Vissar Ionovich
Residential Life Magazine