Originally posted by Kaiser:
Well, what does everyone think gas SHOULD be? I recognize that prices pretty much have to go up over time... so I don't expect the $1-$1.25 that it averaged when I was in HS... but $2-$3+ just ain't right.
I think it ought to be between $1.50 and $1.75... with those super high California prices topping out near $2.
Gas should be cheaper. Much cheaper. At least in the US.
I would say... in the United States gas should be around $1.00 to $1.50 a gallon depending on region and market and local taxation rates.
The problem lies directly with OPEC. They are a cartel that is gouging us. They artificially decide production levels and keep the supply low, therefore inflating prices.
Some member states are now even cutting side deals with countries like China whereas China doesn't pay the prevailing rate on the open market. Consumers in the West are unfairly getting screwed. Politicians are aware of this but do nothing about it.
Congress is also partially to blame because they have not passed legislation enabling US entities to sue OPEC in federal court. One of the worst judicial decisions in US history came from the 9th Circuit (no surprise there) which stated OPEC could not be prosecuted under the antitrust laws of the Sherman Act. They gave OPEC the right of a sovereign immune foreign power which it doesn't have because these powers are engaging in business activities. Business activity does not warrant foreign immune sovereign power.
So anyone who tells you that the judiciary does not screw with your life and wallet is lying.
The last action in this area was that Congress was only interested in giving the Justice Department and the Federal Trade Commission the right to sue OPEC. Which means they don't want the people or private organizations having that authority. That doesn't speak well of Congress (it's people in both parties too by the way).
OPEC is a monopoly that is allowed to have it's noose around the neck of every American consumer.
There are other reasons that some politicians don't want low gas prices....
Some local governments make huge windfalls of taxes every time the price of a gallon of gas goes up.
Here in NY for example, the tax on a gallon of gas is not a static fixed amount. It is based on a percentage. When gas goes up, the taxes the government collects goes up exponentially.
Many local governments like these tax windfalls and do not really want them to go away.
Some of you have been reporting some low gas prices.
The price of gas at the closest station to my house is $2.79.9 as of today.