66 "The Rise and Fall of Gas Prices"

GREED
GREED

Speculation is not the only cause. Try GREED.


The Rise and Fall of the Gas Price

There have been so many articles about gas prices and where people put the blame and point fingers. One place to point the finger is at our own gluttonous was for letting ourselves become so dependent on gas and so willing to buy vehicles that are genuine gas hogs.

There are so many excuses and reasons for the increases in gas prices, and now they are blaming it on speculation. Naturally, anytime the speculators predict that oil prices are going to go up, that affects the stock market, and we all know the stock market controls the economy. But, as soon as they speculate that the oil prices are going up, the price of gas goes up. And if you stop and think about it, the current gas being used at the time the gas prices go up is gas that was produced with lower oil prices. That’s one place we are getting the shaft. Then it takes forever for the gas prices to go down once the price of oil drops.

But where I personally, (and that is why I am writing this article, is to state my personal opinion) place the blame is on GREED. When oil prices go up, for any reason, why can’t the big shots at the top in the oil companies take a cut in their pay or bonuses or whatever instead of passing the increase on down to the people who are already having a hard time making it from one day to the next?

Some will say that these people deserve what they get because they worked so hard to get where they are. I don’t agree with that view either. I would be willing to bet that most of them got their through an inheritance of some kind. Whether it was inheriting a company or money to put them through college, they got where they are by some means other than hard work. I would be willing to bet there are not very many of them that are bringing in those big bucks that really started out actually working in the oil fields or on any kind of labor required jobs. And those of us, that do actually work, are always lining the pockets of the ones that have the power to do something for the little people that keep them up there.

If they want the high pay and bonuses then they should be doing something to keep the oil prices down. If they were hit wit with financial cuts or reductions every time oil prices went up, I would be willing to bet we would see a lot less fluctuations in gas prices.

This is true with any big business, but a lot more noticeable with the oil companies and their heads.

Now, like I said, this is all my opinion. I am not asking anyone to agree with me. You are welcome to give your opinions too. I like to hear all sides of the story.

Greg


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Comments 60 comments

Angela Kane profile image

Angela Kane 4 years ago from Las Vegas, Nevada

I have always thought the causes for the price of gas were more than the value of the dollar and what is happening in the Middle East. These oil companies are making billions of dollars so I agree with you that this is more about greed. I wish we had more energy alternatives.


rebeccamealey profile image

rebeccamealey 4 years ago from Northeastern Georgia, USA

I agree 100 percent. I long for the day when not very much fossil fuel is needed!


gregas profile image

gregas 4 years ago from Corona, California. Author

Hi Angela, Thank you. That is what we have to shoot for is energy alternatives. The problem is, that when we find any alternative, we have to fight the rich oil companies to be able to use them. Greg

Hi Rebecca, Thank you. I long for that day too, except it probably won't happen in my lifetime. Greg


cleaner3 profile image

cleaner3 4 years ago from Pueblo, Colorado

Welcome to the global economy, don't you wish you had invested in standard oil when you were young. oh, sorry that would make you as greedy as the people you rant about. Sorry but if it wasn't for greed We would be a third world country.

The people who run these corporations have absolutly no power to control the price of gasoline, as much as the president does. this is the reality of the situation, we need it, they got it. we want it, we pay for it, or just ride your bike.!


gregas profile image

gregas 4 years ago from Corona, California. Author

Hi Cleaner, Thank you. Actually, I am glad I didn't have the oppertunity to buy stock or become one of those "people" when I was younger. I am proud of the fact I worked all my life and was able to retire without ever being handed anything. And I'm sure that they are proud of the fact that most of them got where they are by taking advantage of others. Still my opinion, Greg


Vellur profile image

Vellur 4 years ago from Dubai

Great article. No one will be big hearted and generous enough to take pay cuts. Again a case of wishes that do not come true. Voted up.


phoenix2327 profile image

phoenix2327 4 years ago from United Kingdom

Good hub, gregas, and very thought provoking. Voted up and interesting.


Michele Travis profile image

Michele Travis 4 years ago from U.S.A. Ohio

Great hub, I was also wondering about this because I have been looking at the price of oil. The price of oil has been the same for a while now, but the price of gas has not. I am a curious person, which is why I check the price of oil and the price of gas. So, it was weird when the price of gasoline shot up, when the price of oil did not.


jenubouka 4 years ago

Love it Gregas! I couldn't agree more. I get the whole supply and demand jig, but come on...I think the only way to get out of this charade is use other forms of fuel, so it goes to show who runs this country in the end....I mean really how hard is it to create a fuel source out of used oil? Bio-Diesel is a Northwest company who picks up restaurant's used fryer oil and pays us $1 dollar a gallon, then they ride around in their "fryer oil fueled" trucks.

Ranting, sorry, Great insight!


gregas profile image

gregas 4 years ago from Corona, California. Author

Hi Vellur, Thank you. I agree, no one will, but hey, life is made of dreams, anyway that' what I have always been told. So, if we are going to dream, let's the "imposible dream". Greg

Hi Pheonix, Thank you. I love to be able to provoke thought. Some people need a LOT of provoking to make them think. Greg

Hi Michelle, Thank you. It is funny how they do that. How the gas prices go up without the oil prices going up. Greg

Hi Jen, Thank you. The thing is the oil companies actually fight the idea of new resources and always have. When they do get started with new resources then gas prices will go even higher and people will HAVE to use the new resources, which will cost too, because it will be new. It's a case of, "damned if you do, damned if you don't". Greg


Dave Mathews profile image

Dave Mathews 4 years ago from NORTH YORK,ONTARIO,CANADA

What you say holds great truth. Someone else we should look at is the politicians. Since most of the gas increases come in hidden taxes voted upon by the politicians, what kind of a kick back are they getting for getting the prices hiked and when we are asked to take cuts in our pay to help the economy why aren't the politicians asked to do the same thing. Instead they have their hands out wanting more.


randslam profile image

randslam 4 years ago from Kelowna, British Columbia

Who owns the oil companies making record profits?

Is it President Obama...no...was the Bush family involved in oil? Oh yeah, a little...

Could oil and gas prices be affected by Republican corporations that are trying to blame present government?

I've been watching the whining and moaning of the talking heads and wondering why they haven't gone to do some research about multi-national corporations that "make the world go round", yes, oil corporations who don't want a president that thinks about alternatives.

We need oil for almost everything these days...including the plastic in the keyboards we tap out our diatribes. Without oil, we will become a very dystopian society...so the preservation of liquified old dinosaur bones should be a very grave concern for all--instead of a greed grab to increase personal wealth--which is a huge part of the problem.

I agree with your hub, gregas.

But there is a far greater evil going on in the twisting of western hearts...it is the leadership of American conservatives...and the greed and bigotry, fear and false faiths of the deceitful, and deceiving, leaders of the right-winged Republican combined with uncaring wealth-mongers that are eliminating the middle class muscle that the world will always need.

These folks are creating a "working poor" class with little influence and quietened voices because of the volume of the shrinking news voices in mass media.

One world, one voice--is a horrible slogan--that leads to the point of enslavement we are seeing now. Mega corporations with mega-rich leadership shrinking the earnings of the common wage earner.


gregas profile image

gregas 4 years ago from Corona, California. Author

Hi Dave, Thank you. Actually, there are a lot of people to look at, but the thing is, it all boils down to GREED. Like my previous hub reads, "Greed, the Downfall of the World". Greg

Hi Randslam, Thank you. I am glad you agree with aaaaawhat I said in the hub, and there are so many reasons for everythingthat happens, but like I said to Dave, it all boils down to GREED. Whether it is greed of money, power or fame/position, it all spells GREED. And with that, the rich get richer and the poor get poorer. Someday there will be no middle class. There will be the rich with the poor, as you say, their slaves. Greg


cherylone profile image

cherylone 4 years ago from Connecticut

I can't wait to get off of the fuel yo-yo game and on to something that is a bit more economical, like solar powered vehicles. I know, they don't want that to happen because then where would they be? :)


cleaner3 profile image

cleaner3 4 years ago from Pueblo, Colorado

Quit dreaming, solar power vehicles? thats a laugher .what do you do on a cloudy day stay home or do you go plug your car into an electical outlet , by the way haveyou seen any where you live.

words like mega rich, greedy corporations, wealth mongers( what does that mean exactly,you don't even have a definition for the term!!!)

some one please tell me what the middle class term exactly means, ? not what the liberal media told you what it is.

Greg you mean to tell me that you retired without some kind of savings? do you have money in an I.R.A. then you are one of the same people you are ranting about .see where they have invested your money.


kashmir56 profile image

kashmir56 4 years ago from Massachusetts

Hi gregas great hub and i do agree with it is all about GREED and nothing more. And it is not just with gas prices,it is becoming a very GREEDY world.

Vote up and more !!!


UnnamedHarald profile image

UnnamedHarald 4 years ago from Cedar Rapids, Iowa

And now there's that USA Today article saying the US is exporting more fuel than importing-- and yet prices rise. Hey, business is business, right? Our oil/refinery companies can get more for their goods overseas now that we're using less. So if we "drill baby drill" do you think our oil/refinery companies will A) Drop domestic prices or B) Export at higher prices (which will incidently keep domestic prices high). I wonder which it would B?


gregas profile image

gregas 4 years ago from Corona, California. Author

Hi Cheryl, Thank you. You could use solar power to charge electric cars. They don't have to be cars dependant totally on current solar power. There are other ways, but that doesn't mean people have to get rich because of something our ancestors made us dependent on. Greg

Well, hello again there Cleaner. There are ways of making solar power work, among other things. But the oil companies discourage any new ideas because it will eventually take money out of their pockets. Rich is rich, it doesn't matter how much they have, if it is more than they need to survive, they're rich. In my opinion middle class is someone that makes enough to live comfortably and they actually work for a living. And yes, I retired with no savings other than my Social Security. I had some in 401K when I retired but I used that to pay off my bills so I didn't have to worry about them. If I have to, I will work part time. I don't rely on anyone but me. Never have, never will.

And I would appreciate it if you want to belittle people, keep it between you and me, and not people that comment on my hubs. That's where I will draw the line on your comments. If you don't loke what I say, that's fine, but do not put anyone down for commenting on MY hubs. Greg

Hi Kashmir, Thank you for the comment and the votes. Greg

Hi Harald, Thank you. The only thing that makes any sense is that the things they do is out of GREED. Greg


cleaner3 profile image

cleaner3 4 years ago from Pueblo, Colorado

Greg you should not be so hard. just having a little fun with words, no need to go all zany, just my sense of humor, i did not intend to belittle any one, it's just that you can't take criticism. with adose of humor. Lighten up! your friend Cleaner3


gregas profile image

gregas 4 years ago from Corona, California. Author

Hi Cleaner, I am very good at taking criticism. I have all my life. I just don't want people criticising someone that comments on my hubs. Personally, I welcome criticism. It just mekes me stronger, you know, like Popeye and his spinich. I also know how critical fellow Coloradians can be. All in fun. We'll have to meet sometime. Thank you. Greg


hoteltravel profile image

hoteltravel 4 years ago from Thailand

Power and greed form the pivot about which the world goes around. For all its negative effects, there is not much we can do. So many alternative sources of energy had been invented, but not even one has become popular because of power enjoyed by oil companies. Let us hope that one day this will change. Voted up.


gregas profile image

gregas 4 years ago from Corona, California. Author

Hi HT, Thank you for the comment and vote. We really do have no power over the GREED and that's one thing that needs fixing. Greg


picklesandrufus profile image

picklesandrufus 4 years ago from Virginia Beach, Va

I agree with you gregas. Greed will continue to take us down until enough people say "Enough". Gas is just one example. Nice read!


Parks McCants profile image

Parks McCants 4 years ago from Eugene Oregon U.S.A.

Thank you Gregas. I appreciate your efforts here.


Alastar Packer profile image

Alastar Packer 4 years ago from North Carolina

Good breakdown and opinion on the 'greedy' situation gregas.


ImKarn23 profile image

ImKarn23 4 years ago

Greed it is, and it becomes more and more obvious with each passing day! Why? Because they don't even bother to hide it anymore. Oil/gas companies profits last quarter exceeded 30 BILLION dollars, collectively. That's ONE quarter. That's...let me see now - 120 BILLION dollars in PROFIT this year alone - when joe blow can't feed his family! Oil is being hoarded in the USA, and my prediction is that it will be...rolled out...closer to election time - so someone can look like a hero! Awesome read!


gregas profile image

gregas 4 years ago from Corona, California. Author

Hi Pickles, Thank you. You're right, gas is one example of GREED, and it is killing the lower to middle class, and it seems that no one really cares. Greg


gregas profile image

gregas 4 years ago from Corona, California. Author

Hi Parks, thank you for the comment. Greg


gregas profile image

gregas 4 years ago from Corona, California. Author

Hi Alastar, Thank you for the comment and support. Greg


kj force profile image

kj force 4 years ago from Florida

Perhaps if 40 years ago we would have given thought to many things gone awry, we as a society would not be in the state thet we are.This includes, education, foods we eat, government,healthcare and the high waste of our world.Thanks for allowing me to vent!!!It's always been about the bottom line..$$$..Great Hub,


gregas profile image

gregas 4 years ago from Corona, California. Author

Hi Karn, Thank you. Yes, oh the GREED. They are going to use every excuse to raise the gas prices, even though our economy is hurting and LOWERING those prices would help everybody and give them more money to spend in other placess to HELP the economy. But that would make sense, and that leaves our poloticians out. They don't know what that means it's been so long since any of them have done that, make sence that is. Greg


gregas profile image

gregas 4 years ago from Corona, California. Author

Hi KJ, Thank you. You can vent on my hubs anytime. Isn't that funny how hindsight works. But it seems that we aren't learning. We just keep getting deeper and deeper. 40 years from now, they'll be saying the same thing. Greg


ardenfr profile image

ardenfr 4 years ago from Lubbock, Tx

Hi Greg, nice hub. I agree that gas prices are too high and that they need to come down but, I fear, the only way that is going to happen is if we all decide to not use oil. Only when it isn't in demand anymore will the price for oil go down. But, everyday it gets scarcer and the demands for it increase.

As some of the others have commented, we need to find alternatives; but we won't find any unless we are forced too, that my friend is human nature.

As far as the political side goes, the USA has one of the highest corporate tax rates in the world. We citizens get to foot that bill, not the corporations, through higher prices fro goods and services. The government wastes its revenues on stupid projects and treats us citizens like a bottomless jar full of cookies.


gregas profile image

gregas 4 years ago from Corona, California. Author

Hi Ardenfr, Thank you. Yes, gas prices do have to comke down. The only problem is, if we cut back our use of gas, then they will charge more per gallon because they aren't selling enough. That knife cuts both ways. There have been alternatives found and the oil companies fight the uses of them because it will cut into their "profits". As for the taxes, that's right. As long as us little people sit here and let it go on, it will. One of the first places they should be cutting is what and how they pay congress and reconsider their terms. That has nothing to do with gas prices, but they might start thinking different if "their" jobs were on the line. My opinion, Greg


ardenfr profile image

ardenfr 4 years ago from Lubbock, Tx

Yes, you are right. Unless our representatives start feeling the pinch we small fry are out of luck.

Personally, I'd like to see hydrogen cars, we could just fill up our tanks with water but like you say, the Petrochem crowd doesn't like that for sure.


gregas profile image

gregas 4 years ago from Corona, California. Author

Hi Ardenfr, I was just watching LinkTV just the other night and that is what they were talking about. Some guy had an invention that would make a car run on water turning it into a hydrogen car. Shell Oil bought the plan and made the man rich enough and made it so he couldn't ever make any more. I don't remember all the details, but I do believe it was back in the late 60's or 70's. I am going to research it though. The oil companies don't want competition. Greg


Express10 profile image

Express10 4 years ago from East Coast

Everyone has choices, we don't have to buy gas guzzlers if we don't want to or can't foot the bill for it. When a larger number of people carpool more, bike more, move closer to work or use alternatively fueled vehicles they can get the attention of those in the oil industry.

I agree that lots of people allowed themselves to become dependent and want someone else to help them out now that prices are high. Voted up and useful.


gregas profile image

gregas 4 years ago from Corona, California. Author

Hi Ex10, Thank you for the comment and the vote. My feeling about the oil companies, is that as soon as we start using less fuel, they will use that for yet another excuse to go up on gas prices. That is going to hurt the people that can't afford the alternatives right away. And just like fuel, people have become so dependent on electronics that there will be a crisis there some day too. Just my opinion, Greg


jkbtcr profile image

jkbtcr 4 years ago from India

You have covered one part of greed. We are all to blame. How many of us prefer to walk or ride a bike to work. Its all a prestige game. If the public transport and pooling of cars and our healthier options were at place I think we could have cheaper gas,fresher air and healthier people. Decision is ours.


gregas profile image

gregas 4 years ago from Corona, California. Author

Hi Jkbtcr, Thank you. Yes, we are all guilty of being greedy to a certain extent, mostly because of the economy and growing population. Sometimes that's the only way we can get around. The GREED I refer to has to do with the greedy using and hurting people to get what they want. Greg


TIMETRAVELER2 profile image

TIMETRAVELER2 4 years ago

Obviously there are many reasons for gas costing what it does...but what about diesel? Diesel is a by product of gasoline, yet it costs more than gas these days. Greed...for sure! Great hub.


SassySue1963 4 years ago

I have to agree with you here. It only takes a suspicion of something to make gas prices go up. I once worked in the Office of a gas station chain. We were not the oil company, we simply bought and sold the gas. We had to check the cost of the gas at least seven times a day because that is how variable the pricing would be. If our prices were set too low and our tanks needed to be filled, we were forced to raise those prices accordingly. The profit margin for your local gas station is actually very low. I would not have believed it before I worked for the other side though. It is only partially the oil companies fault however. Much of it also has to do with speculators in the Market and OPEC itself. The truth is that gas prices eventually come back down with a decrease in oil prices. It is all the other consumer goods that raise their prices using the excuse of transporting costs (due to the cost of gas) that never return to their original prices.


Shyron E Shenko profile image

Shyron E Shenko 4 years ago

Greg, I agree you, it is greed and a means to blame it on something or someone else.


Cantuhearmescream profile image

Cantuhearmescream 3 years ago from New York

Greg,

I can't stand it and I'm on your page! We bitch but we enable them anyway. I've had groups or emails in the past for "Boycott Gas Day"; the idea being if everyone chooses to not fuel up for one day (i.e. get it in advance) then these companies and beneficiaries would feel the hit. Sure maybe it would be a temporary pain, but they would get a small taste of what it could really be like. But no! We are selfish Americans. It is too hard to opt out of buying gas for just one day or drive a little less far or make one less trip or buy that fuel efficient vehicle. We want it all and we want it now. I've had to bring back bottles and cans just to get gas enough to make it to a doctor's appointment. I'm all for boycotting! Great article.

Voted up and Interesting!

Cat


gregas profile image

gregas 3 years ago from Corona, California. Author

Hi Cant, the problem with the boycott for a day is that the next day we have to buy the gas we didn't buy on that day and they know it. They just have us by the you know whats and we just keep doing our thing. Greg


Cantuhearmescream profile image

Cantuhearmescream 3 years ago from New York

greg,

You're right, and I've know that would be the case, but if I came down to it, I don't think we could help ourselves for a day anyway.


Shyron E Shenko profile image

Shyron E Shenko 3 years ago

Hey Greg, Cantuhearmescream is right, if everyone got together and were to boycott one company for one day and went to other companies, it would have an impact.


gregas profile image

gregas 3 years ago from Corona, California. Author

That MIGHT have an impact, but that's not exactly what she said. How about if we buy only from American owned companies, if there are any? Thank you for the comment. Greg


Shyron E Shenko profile image

Shyron E Shenko 3 years ago

What American Owned Company??? I don't know of any. Do you? I did my part and bought a hybrid car.


Cantuhearmescream profile image

Cantuhearmescream 3 years ago from New York

Okay, now that I've started trouble I guess I ought chime in :-)

First, gregas, I hope I didn't offend you with my opinion because I value yours and that's why I follow you. Secondly, I agree with the whole concept of greed but I see it as "everyone" tries to get their hand in the pot. I guess I'm just getting sick of watching people complain about the same things they participate in.


gregas profile image

gregas 3 years ago from Corona, California. Author

No, I don't. That's why I said, "if there are any". I bought my last car in 2008 and it is my last car. It is a Tiburon, small car, so I am kind of doing my part. At least it's not a gas guzzler. I also live only 11 miles from my work and drive against traffic both ways. Greg


gregas profile image

gregas 3 years ago from Corona, California. Author

You didn't offend me. I like getting everyone's opinion. That's one of the reasons I write on the hubs. I welcome and respect everyone's opinion. Greg


Cantuhearmescream profile image

Cantuhearmescream 3 years ago from New York

greg,

Good. Bottom line; greed is a huge problem and it'd be nice if we could figure out a way of not feeding into it.

Cat


Shyron E Shenko profile image

Shyron E Shenko 3 years ago

Arbusto, was an American Oil company. When its founder George W. Bush found it was not making money, George left his investors (which included Salem ben Laden, brother of Osama) high and dry when he sold the company to Spectrum 7, which was partnered with Enron, and then Harken Energy bought Spectrum and Halliburton (i.e. Dick Chaney) bought Harken. Very interesting but I don't know if Halliburon is still in the oil business.


gregas profile image

gregas 3 years ago from Corona, California. Author

OK Cat, let's put our heads together and figure it out without the ruckus of OTS. :-) Greg


gregas profile image

gregas 3 years ago from Corona, California. Author

Question: How can we buck the oil companies when our country is being run by the businesses that aren't even owned by Americans? Because if you think about it, the oil companies run this country. :-( Greg


gregas profile image

gregas 3 years ago from Corona, California. Author

I was under the impression at one time that Valero was an American owned company. But I was told that's not true. Greg


Cantuhearmescream profile image

Cantuhearmescream 3 years ago from New York

greg,

I don't really know if there is a way to make a change, but when I have to figure out how to put macaroni and cheese on the table some nights, these greedy turds are eating escargot from money that I've helped contribute!

I don't know how accurate these are but they are listed as American owned:

Alon USA

Arbusto Energy

Apache Corporation

Chevron Corporation

Anadarko Petroleum Corporation

BreitBurn Energy

Chem-Energy Corporation

Chief Oil & Gas

ConocoPhillips

Crown Central Petroleum

Devon Energy

ENSCO International

Eser Corporation

ExxonMobil

First Texas Energy Corporation

Flying J

Greka Energy

Hess Corporation

Koch Industries

Marathon Oil Corporation

Northern Oil & Gas

Occidental Petroleum

Plains Exploration & Production Company

Questar

Shell Oil Company

Sinclair Oil

Somerset Refinery

St. Mary land & Exploration

Tesoro

THUMS

United Refining Company

Vaalco Energy Inc.

Valero Energy Corporation

Venoco Inc.

XTO Energy


Miks7 profile image

Miks7 3 years ago from Sioux Falls SD

More prosperity has been created after the discovery of oil, than any other mechanism that has been thought of and tried. Oil is in everything we do, whether it is in the clothing business, transportation, manufacturing, heating, etc. Because it is cost effective and convenient, it won't be going anywhere soon due to the high utilization.

If we took the CEO's pay and upper management in the oil business, and decided not to pay them at all during the year, it would not affect the price of oil but a penny a barrel at best. It really is a supply and demand issue, and the cost of producing oil for the consumer is why it costs what it does. Whether it is the oil rig that has to be constructed, to the pipeline etc., it all affects the cost of a gallon of gas.

Once the technology for alternative energy becomes economical to the point that it does provide for an inexpensive alternative to oil, obviously oil will be on the way out. Although there may be some collusion among the oil companies, the fact is many countries rely on the wealth of from oil production, and therefore the free market doe force itself into the equation over time.


W1totalk profile image

W1totalk 3 years ago

Great article. The companies are kind of holding the lever for the need so they feel they have the control. However to ask them to be conscious means writing and in depth chart for them to follow.

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