After being hammered with $4-plus gasoline this summer the price is finally starting to fall a bit. That seems suspicious to me.
I'm not complaining, mind you but why are gas prices falling? Has consumption fallen enough to warrant this latest price decline? I don't believe so.
Could the oil companies be feeling enough of our pain that they are cutting profit margins to help out the little man. HA! Oil men only care about one thing, profit.
I don't blame big oil for the current energy problem. I don't believe they have a vested interest in seeing high prices. They don't care how much a barrel of oil costs, they're going to make a set profit margin no matter what.
So why the sudden decrease in price? I think OPEC is starting to realize they can't bite the hand that feeds them.
With the astronomical rise in gasoline prices during the last three years people have started to wake up. There is a big push here in the United States to drill our own oil and reduce our reliance on OPEC.
New technology is being introduced in vehicles that will eventually make the combustion engine a thing of the past.
Recently, when oil was $20 a barrel less than 10 years ago did anyone think the Saudis were a poor country. No, Saudi Arabia reeked of wealth, but for some reason the Arabs wanted more. That's about to blow up in their faces now.
Hopefully, anyway. I have a sinking feeling that if the price of oil were to drop back down to 2001 levels then us Americans would rapidly develop amnesia and forget about moving forward with our own energy plans. It's just so much more easier to let other people do the work for us.
Reducing our demand for OPEC oil would free up millions of barrels of oil a day to be traded on the world market. That would cause the price to plummet, which is a good thing. I could then continue to dream about buying a 1965 Volkswagen 21-window micro bus, a vehicle that very much needs to run on gasoline.
I think we're on the right track with new energy sources and I hope that one day very soon we will eliminate the need for gasoline vehicles completely.
Someone needs to be punished for what has happened in recent years. And if that means seeing OPEC's source of funding dry up, I think that would be justified.