Thursday, September 21, 2006

Gas Prices: They are a changing...

Has everyone noticed that gas prices are decreasing? This is the second week that the price per gallon for gas is below $3/gallon and still decreasing. While I am an optimist overall and about most things in life, I am not optimistic about these lowered gas prices. I think the lowered gas prices are temporary at best and they'll start climbing again. I have this theory that they get lowered just enough to make consumers feel better about the price of gas, and just when they start feeling better, the gas companies start raising prices again for one reason or another. Why? Because the gas companies can. It fits the game theory from the book, Co-opetition. It's raising prices even though the demand stays the same. And it is just awful.


Did anyone see President Bush's comment on the news about the rising gas prices when the prices first started climbing above $3/gallon? Read the full story.

Following is an excerpt, on a question the President answered from reporter Carl Cameron on gas prices and the current gas price crisis (dated April 28, 2006):

Carl Cameron.

Q Thank you, Mr. President, good morning.

THE PRESIDENT: Thank you.

Q Back to gas prices just a moment ago. Insofar as you directed some of your Cabinet this week to look into the possibility of price gouging, do you have a suspicion yourself, do you have evidence here at the White House, and should the American consumer believe that you think they're being ripped off?

THE PRESIDENT: I have no evidence that there's any rip-off taking place, but it's the role of the Federal Trade Commission to assure me that my inclination and instincts is right. More importantly, it's up to the Federal Trade Commission to assure the American people that they're being treated fairly at the pump.

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