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Lower Gasoline Prices? Thank you, Oil Industry!

bigstock-gas-pump

This past weekend, the cost of fueling my vehicle was far less than it had been just last month and, happily, I am not alone. According to the Energy Information Administration, gasoline is at the “lowest average price since January 31, 2011.”

How do lower prices affect people? Fueling at the pump across from me was a cab driver who relayed his thoughts on the price: “I’ll take it!” he said with glee. “Every cent lower is pure profit for me!”

Expanding on his excellent point, because petroleum is a fundamental fuel of our industrial economy, “every cent lower” in its price ultimately means not only cheaper gasoline, but also cheaper production, cheaper goods, and lower cost of living for you, me, and everyone. When petroleum is cheaper, food is cheaper, as transportation costs are cheaper; goods made of plastic, which is made of petroleum, are cheaper; air travel is cheaper; and on and on.

Why are the prices for petroleum falling? They are falling in part because demand across the globe has dwindled due to coercively-throttled economies. But a large part of the reason for the lower prices is that many good people and businesses in the oil industry are and have been for decades developing technologies that increase production and decrease costs, which, in turn, render lower prices at the pump and elsewhere.

As Stephen Moore explains in a recent article:

[S]ince 2008 the U.S. has increased our domestic supply by a gigantic 50 percent. This is a result of the astounding shale oil and gas revolution made possible by made-in-America technologies like hydraulic fracturing and horizontal drilling. Already thanks to these inventions, the U.S. has become the number one producer of natural gas. But oil production in states like Oklahoma, Texas and North Dakota has doubled in just six years.

So, in addition to saying “I’ll take it!”—let’s remember also to say “Thank you!” to the frackers and other energy producers who deliver the fuels on which our modern lives and happiness depend. And let’s do everything we can to free them from government regulations, which throttle their ability to deliver these fuels efficiently and at low prices.

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One Response to Lower Gasoline Prices? Thank you, Oil Industry!

  1. swemson@gmail.com'/
    swemson November 30, 2015 at 2:34 am #

    By arguing in favor of fracking on the grounds that it reduces CO2 production, you’re sanctioning the theory that CO2 is a pollutant which is potentially dangerous to us.

    But it’s not!

    The theory that man-made CO2 is causing dangerous indeed potentially catastrophic consequences (AGW) is a complete hoax. AGW began with an enormous lie, in fact more than one… This absurd theory contends that:

    1: The earth is warming to dangerous levels. IT’S NOT…
    2: That this make-believe warming is due to man-made CO2… IT’S NOT…
    3: That we have the ability to change it. WE DON’T…
    4: That warming is worse than cooling. IT’S NOT…

    In fact, warming is good & so is CO2!

    CO2 is a beneficial trace gas that’s one of the fundamental building blocks of life on earth. Without it, nothing would be green. Plants require CO2 to grow & to produce oxygen through photosynthesis. CO2 is plant food. Saying it’s a pollutant is one of the biggest scientific frauds of all times.

    Additionally, history shows that man has always thrived during the earth’s warm periods, while he suffered, starved & died during the cold periods for the simple reason that crops don’t grow well in cold climates.

    Human society went through a period of radical change during the industrial revolution, during which we made many mistakes… pollution being one of them. But we’ve now learned to use hydro-carbon based fuels (fossil fuels is a misnomer btw) without producing any significant quantities of harmful pollutants. But pollution still exists. For the most part however, it was, and still remains, largely a local issue, and mother nature as always, shows that she can clean up after us given a few years to do so. The BP Gulf oil spill is the perfect example of that. But CO2 emissions are not, and never were a problem, & they never will be.

    Criminals like Maurice Strong, Al Gore, & Obama have made millions through this outright fraud, and worse, are now trying to kill off over 90% of humanity in the name of “Sustainability”… (Agenda 21) which is also a hoax.

    It took them well over 25 years of constant repetition to sell this fraud to the public. We can only defeat the lie by continuously repeating the fact that it’s a fraud every chance we get, and we can’t do that by saying things like “fracking lowers our CO2 emissions”, which only pays lip service to the lie…

    fs

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