On the local news this morning, the plastic faces were mindlessly cackling about how the U.S. was about to release 30 million barrels of oil from the strategic reserves.
The geniuses behind the particle board anchor desks were carrying on and on about how they could finally look forward to lower gas prices.
I tell ya, as a nation, we just don't get it. And our ignorance is going to crush us under the weight of our own stupidity and arrogance.
First of all, 30 million barrels is nothing. It's peanuts. It can't even feed our fix for two days!
Second, the absolute worst thing we can do right now is make any attempt to “control” the price at the pump or allow the government to “protect” us against oil shocks.
If geopolitical events are pushing oil prices north, then so be it. We're the idiots that continue to rely on imported oil to keep our economy moving. So with that reliance, we have to deal with the dangerous consequences that come with it.
If oil prices spike, the best thing we can do is to just let it happen. Let all those local news zombies recite their “pain at the pump” segments. I don't care. Let consumers bitch and moan about high gas prices. If it hurts their wallets enough, they'll seek alternatives that are more economically-viable. That's how the market is supposed to work.
You may recall when gas first hit $4.00 a gallon a few years ago. SUVs sat on car lots collecting dust while consumers were offering above sticker price to get their hands on a Prius. 50 miles per gallon carries a lot of weight when gas prices soar!
Keep your tax dollars out of the equation, and let the consumer decide if he's willing to pay $8 or $10 for a gallon of gas. If he is, then so be it. If he's not, I can assure you that he'll find another way to get from point A to point B.
And if increased fuels costs result in higher food prices, so be it. As a result, you'll see more folks buying local produce and meats. And that'll sustain local farms and boost local economies. This makes a lot more sense than shipping in tomatoes from California and garlic from China.
Yes, it is absolutely true that if Uncle Sam would just butt out and let the market operate the way it's supposed to, the country would be given such a jolt that most would go into panic mode. But sometimes that's what you have to do to clean up a junkie.
Bottom line: The longer the government interferes, the longer our addiction will last. Of course, addictions don't last forever. Eventually you do fall victim to your drug of choice. Ours is oil. And if Washington continues to allow special interests to dictate energy policy, you can be certain that we will fall victim to this drug. And it's going to be ugly.
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