"My Town and Yours" Thoughts and Observations of Mark Lange
Gas Prices be Damned
by Mark Lange,posted Feb 20 2013 6:12AM
Without the price of gas being a subject, I don't know what I would talk about to many people. Why does it go up and up and up? Why does it cost more some places and less other places? $3.77 a gallon around here seems like they are giving it away when the average prices is $3.83 in Indiana.
So who is making the money from these prices? It isn't the local people unless you buy an armful of snacks and drinks inside the store. It's the speculators that use the options market to bet that prices will rase. I think the speculators should have to actually take posession of the crude oil they buy - bet on each day from their computers in the Hamptons. They should have to get the oil out of the ground, ship it around the world - sometimes through pirate infested water, refine it, and get it to the corner convenience store and see how profitable that is.
What can we do about the prices? Not much unless we're going to skip those trips to Evansville to get a ten dollar burger and I'm not ready for that drastic action yet. Guess I'll just keep griping. It gives me something to talk about.