Unethical Behavior and Gas Prices

http://money.cnn.com/2008/06/11/news/economy/gas_poll/index.htm




Hey ... I'm not really sure if this is what we are supposed to be doing but this is an article similar to one I read a while back. When a sample of Americans were surveyed, sixty-two percent blame "unethical behavior" by industry players in regards to gas prices. Only thirty-two percent felt that the continual increase in price was due to supply and demand. Half the states in the U.S.A. are paying over $4 a gallon on average. When I was in Hawaii this summer, the gas was around $4.55. These prices have taken tolls on consumer budgets but as a result of high prices record profits are being made by oil companies. Some people project gas prices will level off at the end of the summer and others think it will continue to rise. Although many people are finding other ways of transportation to use minimal gas, many people who have the money to spend continue to pay the price at the pump. If the U.S.A. lifted some restrictions on domestic oil and drilling, the gas prices would not be so high. We clearly need more sources of oil in the U.S. as well as globally.

I feel personally the U.S. has done very little to help keep the gas prices from rising. The government knows that people will continue to pay for gas and as a result are allowing the price to continue to rise and taking advantage of the situation at hand. There are several things the government could do to help lower the prices of gas, however, the profit they are seeing is huge. Do you guys think it is unethical or merely a case of supply and demand?

Kristin