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Content Any Way U Want It!

BG Falcon Media

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September 21, 2023

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Decreased gas prices lead to other problems largely unnoticed by consumers, important to recognize

This past Thursday on Thanksgiving, the leaders of the Organization of the Petroleum Exporting Countries [OPEC] met to discuss oil production and output for the near future.

The purpose of the meeting was to discuss the recent drop in oil prices that has put pressure on OPEC nations, as well as American oil companies who operate in upstream and downstream production, or in other words, drilling and refining.

The result was no change, as Saudi Arabia made the decision to maintain its oil output to compete with light crude exports from the U.S. fracking boom. Simply put, the result of all of this is falling oil prices due to an increase in supply.

As oil prices fall, so do gasoline prices. Most Americans simply take note of the drop in gasoline prices and ask no questions about the economics behind the situation.

But the importance of this discussion is the impact that low oil prices have on consumers and their mindsets toward oil.

Unfortunately, consumers have become too blindsided today to acknowledge the impacts of falling oil prices. Falling prices may make gasoline cheaper at the pump, but they also open the door for gasoline taxes to be raised.

In addition, rising prices loosen the incentives for companies and individuals to explore responsible alternative energy means. I’m not implying that everyone should buy a Tesla or plant a tree, but awareness should be had.

As gasoline prices fall, few people ask why they are falling and most people simply act on the news by purchasing large SUVs or by taking family road trips. While these expenditures aren’t bad in nature, they do little to promote the importance of our world’s reliance on one natural resource.

Instead of celebrating this recent drop in prices, American politicians and citizens should question what the alternative will be for the next 10, 20 or 30 years.

Regardless of price fluctuations in the oil market, crude oil and its various forms continue to have negative effects on our environment as well as our worldwide policies.

The largest burden some people face with these trends is ignorance.

Remember the 2008 election? Many people [including myself] witnessed a small group of social media advocates blame the president for high gas prices, citing that “change” had not taken place.

Such accusations were nothing more than dimwitted, as they expressed nothing more than dissatisfaction with one administration.

Instead of complaining about the day-to-day fluctuations of gas prices, University students should take initiative and question the surroundings of their society.

As a generation with many burdens and debts, it is our responsibility to find responsible and ethical alternatives as well as incentives to create a cleaner, more efficient environment.

Doing so will lighten the effects of energy fluctuations as well as hopefully rid the addiction to tax increases on gasoline.

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