We’ve all heard about OPEC (the Organization of Petroleum
Exporting Countries) which can manipulate the price we have to pay at the gas
pump without fear of any regulatory intervention. The economic principle of the
law of supply and demand seems to have little if any restraint on them as they
can increase or reduce production to achieve their price/profit objectives. We
the consumers are their powerless captives.
Recently we have all witnessed the astronomical price hikes
for gasoline in California due to fires and power outages in refineries as
reported on the internet and in most if not all recent newspapers. If it hasn’t
yet soon it is predicted the outrageously high price for a gallon of gas will
appear at gas stations near you. Why is this? As a skeptic and maybe at times a
believer of conspiracy theories I think there is a new cartel at work here and
it’s in America. I utter the acronym each time I have to fill up my gas tank
and see the price has gone up significantly.
I suspect the name of that cartel is the;
Organization of
States allowing the uncontrolled
Hiking of gas prices as a result of
Inefficiency and inadequate emergency contingency
planning
Tactics by the refineries
Or OSHIT
I wouldn’t be surprised that many folks unknowingly utter
this cartel’s acronym when they gas up their vehicles at the gas pump, I know I
do.
