On my drive to school yesterday I saw a person outside the gas station on my way to the I-490 giving away/selling? bumper stickers. Among the panoply of choices included a “Romney-Gekko 2012” selection, another touting, “The Problem is Corporate Greed,” and another touting, “Oil Speculators Raise Gas by 60%,” and another, “Your Need to Speed Helps Feed Big Oil Greed,” and “Oil Companies SUCK My Wallet Dry,” … there were others, including some even chiming in on the Limbaugh-Fluke affair, “This Slut Votes!” and some of the typical, “Imagine Whirled Peas,” and the like.
The gas pump at the Exxon said $4.19 per gallon, so of course all of these are right – evil oil company greed. And even worse, it’s probably caused by evil oil speculators and perhaps other nefarious stuff.
But then take a look at this chart, reminded to me by glancing at the heating bill a few days ago:
In other words, natural gas prices are as low today as they were nearly 20 years ago, and at $1.94 per million BTUs of energy cost 1/5 of what they did when the new millenium started. Where are all the bumper stickers? We here at the UnbrokenWindow understand that greed is always around us, not generally increasing or decreasing with the stage of the business cycle. We also understand that it is as “greedy” to pursue profits by having the price for your product fall as it is “greedy” to do the same thing with high prices.
But what we at the UnbrokenWindow do not understand is whether folks know that some famous oil companies also operate natural gas companies. Doesn’t that at least give any of the anti-Gekko’s a headache?