Price gouging or simple economics

“The price of gasoline is ridiculous!” is a phrase that I hear all of the time. I am starting to get tired of people complaining about how expensive gas is, and how the Oil Companies are evil because they are making record profits. Sorry to inform you, but when people demand something, with a low demand prices go high. Everyone says that this is wrong in the case of gasoline, but how? Supply and demand applies to everything. Gas is very expensive to produce, it is expensive to find, refine, and extract. How many environment laws to the oil companies have to deal with.

To be frank, I am sick and tired of hearing people complain about these prices… Especially when SUV (Gas hogs) sales are at an all time high. If you hate the gas prices, stop buying gas. Stop driving a block to go to church. Start riding the bus. Start buying fuel efficient cars. Hate high prices, then start doing something about it, and stop telling me that fuel is a requirement… Sure it is important, but you can get by with out using some much. Both of my cars care averaging around 30MPG. Sure I have to drive quite a distance, but I don’t mind paying.

Here is a video that sums things up nicely:

Or visit the link at: http://www.youtube.com/watch?v=v_XMzh2rg_s

Wikipedia has a great article about what price gouging really is: http://en.wikipedia.org/wiki/Price_gouging

One Response to “Price gouging or simple economics”

  1. what about this second sentence?

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