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I was channel surfing one afternoon in the summer of 2004 when I came across Bill O'Reilly as he struggled to discuss the topic of high gas prices in the U.S. He was virtually apoplectic in demanding to know why the U.S. Government wasn't doing something about the high price of gasoline. His guest was a spokesperson from the Automobile Club who didn't seem particularly equipped for his job. When the segment was over, I e-mailed the following to O'Reilly.
Dear Mr. O'Reilly,
As I listened to you repeatedly ask the Auto Club flack how come the government isn't doing something about the high cost of gasoline, it seemed to me that the underlying premise of your position (and certainly of your tone) was that Americans are somehow entitled to cheap gasoline.
It also seemed to me (though apparently it didn't seem so to the Auto Club spokesman) that the answer to your question about why gas prices keep going up (notwithstanding the more complicated answer vis-a-vis market-specific fuels) is simple: supply and demand.
If those with the supply of a product (especially a non-renewable one) decrease their output of said product, especially at a time of increasing demand, the result is a rise in the price. I'm no economist but I think this is referred to as the free market.
Few things irk me more than seeing on local television news here in LaLa Land, the standard interview they trot out when gas prices go up: The SUV owner stands at the pump complaining about how much it costs to fill his/her tank. "Hey, it's costing me a fortune just to go to the grocery store at these prices. I have to drive, right? It ought to be cheaper."
Listen pal, I have to live somewhere and I'd like to buy Aaron Spelling's 56,000 square foot house for a hundred grand instead of the fifty million the market says its worth, but I'm not entitled to. You don't like how much it costs to fill up? Get a smaller, more efficient vehicle. Otherwise you just look like a child stamping your feet demanding what you want with no regard given to the costs involved.
Finally, I would suggest that the government doesn't need to do anything about the price of gas. It's my understanding that when market pressure raises the price of a product, consumers can either pay the price or adapt by adjusting their excess consumption.
Americans are capable of greatness. I've seen it. I suspect that's why I find it so distressing to see these displays of abject gluttony and selfishness.
Hey, anyone read any Thorstein Veblen lately?
Sincerely,
Bill Fitzhugh
It shouldn't come as a surprise to anyone that I never received a reply.
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