Tuesday, August 12, 2008

Gas Prices Go Down-Analysis

Have you noticed that if gas prices are rising there is lots of reporting , angst, and blame all over the media.  Rising prices produce reports of conspiratorial theories, blaming political leaders (whoever is in office)-but mainly whoever you don't like anyways, calls for major change, and especially blaming oil companies.  However, if prices are lowering, you don't see any praise of oil companies, really any praise or thanks at all towards anyone.   Sometimes you hear that politicians conspired to lower prices just in time for an election or whatever.  In other words, those looking for something like that will always find it.  Market forces cause increases and decreases in prices of commodities all the time.  If anything is to blame or to be praised it is the supply and demand curve.  Consumers do have some control over consumption and that will be reflected in the price.  Still, the praise for lower prices is pretty much silent compared to the rancor over rising prices.  Funny how human nature works. 

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