Every time I go to the pump to pay for my gas I am astounded it costs well over $60 to fill my 15 gallon car. I start reconsidering going to places, and I stop spending my money on other things. I stay at home and feed less money into the economy. This is not only my problem but the problem for people all over the U.S., which could cause an even harder hit to the economy.
The U.S. economy has been in the dumps. By increasing the price of gas so steadily, the economy will continue to slump. Higher gas prices normally mark the well being of an economy, but due to the revolts occurring across seas in some of the most fuel producing countries, the gas prices continue to climb higher and higher.
According to money.CNN.com, by last summer, Exxon Mobile’s profits had nearly doubled than what they expected, as well as other large oil companies reporting “larger-than-expected” quarterly profits. Every fiscal period oil company’s quarterly profits are greater than the previous quarter.
What does this say about the amount we pay for gas?
If every yearly quarter these companies are making more money than they were the last time, this means that not only the amount of the gas across the seas is going up but the size of the mark up these companies are putting on gas continues to grow higher and higher.
This is hurting our country. While we are making billionaires even bigger billionaires, we are decreasing the amount of money being fed into the economy. There are fewer drivers out on the road because it costs too much money to drive anywhere unless essential. Tourist locations are taking set backs because people are unwilling to drive to far away locations.
According to theDestinLog.com, a website based off a popular tourist town in Florida, Florida is susceptible to taking set backs in their local tourist economy
“With 90 percent of our market being drive market, I think we’re all watching very closely gas prices to see where they will end up,” said Dawn Moliterno, executive director of the Walton County Tourist Development Council. “I don’t think anyone knows what the impacts will be.”
There has to be a way to stop the set back that we are receiving due to gas prices. There should be a law passed on the amount of profit you are allowed to make off of selling gas. Another alternative to this whole situation is finding other ways to provide energy. Many scientists work long and hard to provide alternative ways of creatinging energy.
Gas prices are just too high. By the government letting oil companies rip money out of our pockets, they are also hurting the economy. There will be less money fed into other markets of the economy and businesses will be hurt. It is time to either solve the problem or change.
