"Cheaper" Oil?
I recently saw an article on time.com asking a question that struck me as somewhat bizarre; "Is Cheaper Oil A Good Thing?" "Cheaper Oil"? Cheaper how? Define your terms. Sure, a litre (welcome to Canada) of gas costs less than it did last week, but does John Q actually perceive this slight drop in price as "cheap"? Apparently so. The opiated public has become so conditioned to rapid, seemingly arbitrary fluctuations in prices at the pump that they lose sight of the fact that it's been two-steps-forward-one-step-back for a very long time now.
I took this picture in June of 2003. I found the numerological irony in the price that day amusing because at the time $0.666 per litre was high. It would be about two years later that gas stations would start changing out their signs to be able to display an extra digit and shift the decimal point to the left, forshadowing the price increase above $1.00 per litre.
So the price has more than doubled in less than five years. So what? Well, how many people do you know whose income matches that increase? I'll assume "not many" and continue.
The following story is based on actual events. I stand in line at the grocery store or wherever and overhear two people talking.
"Did you see the lineup at the gas station?"
"Yeah, I hear the price of gas is supposed to go up tomorrow."
So the sheeple stampede to the gas station to top off their tanks before the price goes up let's say, 8 to 12 cents per litre. On the other side of the long weekend the price comes down by maybe 3 to 5 cents per litre and again there's a huge lineup at the gas station.
"I figured I better fill up while the price is so low."
WHAT?! Do you not remember that four days ago the price was lower? I just want to make sure I have this straight. Haul ass to fill up when the price goes up, and haul ass to fill up when the price comes down. This perpetual state of panic created by rushing off to the gas station every time the price changes seems to have dulled the collective memory of consumers everywhere, creating the problem of "cheaper". There's nothing "cheap" about it when oil companies are turning multi-billion dollar profits per quarter. That makes about as much sense as corporations spending hundreds of thousands of dollars on resort vacations while taking billions of dollars in "bailout" money.
But look on the bright side...Think of all the money you'll save by not driving to that job you lost because the economy is in the toilet.
