lol that's not how economics works. Silly OP.
Price control never works
The problem is we're running out of easily accessible oil to make the gas. There's lots of oil left but it's in places that are hard to reach. Therefore, the cost of attaining it goes up which also raises the price.
You could say, "well why don't we just force the companies to decrease their profit margins?" That could potentially cause companies to quit producing altogether. There's a certain point in any business where management asks itself, "is this job really worth doing for this amount of money?" Less companies means less oil produced. Lower the amount of oil produced while keeping the demand the same and we get a raise in price.
The best way to lower gas prices is to lower the demand because the supply isn't going to get any better.
Couldn't have said it better. The only thing I have to add about the post is that the cost of everything else isn't dependent on the price of oil- in other words, oil prices going up doesn't necessarily mean the price of other things will, too.
I wouldn't suggest it doesn't impact some things. The price of shipping products definitely goes up with the price of gas. But of course, with advancements in technology and with the promotion of mass transit sources such as trains, it's relatively easy for the transportation industry to find the most efficient way of keeping fuel costs low because of the vast amount of ways to go about doing it. So transportation is mildly affected (even commuter travel).
Some things that are heavily affected though would be something like asphalt pavement. It has gone up over 120% since about 2008 due to the price of oil because asphalt depends heavily on oil. Plastic products are also petroleum based and rise in price with oil. When I worked at a grocery store, the price of bags went from like 1 cent each to 3 cents. That's a pretty big difference considering how many bags a grocery store typically uses.
But as mentioned, not everything would be affected and once again, lowering demand is the best way to lower the price. Ultimately it requires us to inconvenience ourselves in some way and most people aren't willing to do it.
I knew some things would be effected, cuz some thing require transportation and shyt, but I figured for the most part, there wasn't a direct correlation. Thanks for the economic lesson haha (you also taught me what happens when minimum wage goes up)
Always glad to spread a little knowledge.
I forgot to mention that oil has indirectly increased the price of corn. In our search for alternative fuel sources such as synthetic fuels that come from corn, we have increased the demand for corn. This means higher corn prices which lead to higher food prices.
I was also going to give a big long winded story about how the trucking industry drove out the train industry which increased convenience and also the demand for oil (a train is more efficient than 50 trucks). But I'll save that for another day.
The oil companies won't go for it (because they'll lose money on the oil they sell), which means they'll refuse to provide oil to the country. The alternative is to subsidize it to lower the cost (at the government's expense), but that will only increase our dependence on it as the prices continue to naturally rise.
What a dumb post. Obviously a product of the American school system.