ss_blog_claim=8dcabb3175f064b32823a45ed345083b Majik's Thoughts: Are Gas Prices Going Even Higher?


Are Gas Prices Going Even Higher?

While surfing today I happened upon this article 'OPEC to study effect of weak U.S. dollar on oil prices' on the C.B.C.s website. I found it interesting because right now, OPEC is blaming the faltering U.S. Dollar for increase in the cost of their crude oil. Apparently, the cost of a barrel of oil is priced in U.S. Dollars and OPEC is concerned about having less reserve dollars because of the weakened greenback. Once again, people are being greedy!

Now here in Canada, where I live, the average cost per litre is hovering around $1 which is too high if you ask me. Unfortunately I have to commute to work every day and my expenses for gasoline is growing. In the article, OPEC is looking into the affect that a weakening greenback has on the cost of a barrel of oil. It doesn't take a bunch of economist to get together to see that in the end they are losing money and have to raise prices to stay in their mansions! But that's what capitalism seems to be, rip off the poor so they stay poor and keep the rich lining their pockets with gold.

Is it not time to level the playing field? Are we not all entitled to have food and shelter? The higher the rich want the prices, the greater the divide between the classes will be, soon their will not be a middle class if the few rich aristocrats get what they want. It is appalling to see prices going up, granted there really is only two things in life that are certain, taxes and death, but what kind of society are we creating by forcing more and more people below the poverty line?

In my experience, the harder you work to get ahead, the deeper in debt you get. The system of working for a living works, but only if you get paid large sums of money to come up with ideas. Labour intensive jobs are cut almost every day just to increase profit margins, once again to keep the poor on the brinks of bankruptcy and continue lining rich pockets with gold. The longer this practise continues, the larger the homeless population becomes.

By raising costs of oil, more an more people are going to be forced below the poverty line. With more people below the poverty line, retailers would have no choice but to bring down the price, but it won't be until a large number of people have been forced into that situation. My final thought is, oil prices are high, and if we do not put our collective heads together and start integrating a renewable fuel for our vehicles, more and more people are going to feel the pinch at the pumps! Lets all work together and get the necessary infrastructure for renewable fuels so we all can afford to have food and shelter!


Tyler said...

I wouldn't be surprised to see it pass 100 a barrel

Majik2903 said...

Tyler, thanks for stopping by and leaving a comment! Although I think the price briefly went over $100 a barrel last week, could be mistaken, I know it was close!


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