Oil prices, the media & reality
Isn't it amazing how the media loves to hype the price of crude oil and gasoline? And isn't it incredible how those costs affect the securities markets? What does it really matter? Who really cares? If you do, perhaps you haven't done the math.
Let's say you commute 25 miles round trip to work every day, or about one gallon of gas worth of driving. And for the sake of blog-scussion (e.g., discussion blog style), let's say $2 is more-or-less a tolerable price for a gallon of gas, but the price of gas is now $3 a gallon. For the one gallon-a-day driver, that's only an extra buck a day, or $5 a week, or $20 a month, or $240 a year. Big deal. If you didn't spend that cash on gas, you'd just spend a little more on booze. Or food. Admit it already.
Sadly, the media loves this "story" and won't let it go. They've been reporting daily on gas prices for years and they wouldn't know what to do with the air time and print space if they stopped. But we'd still know how much gasoline costs us. After all, we see it every time we fill up.
Let's say you commute 25 miles round trip to work every day, or about one gallon of gas worth of driving. And for the sake of blog-scussion (e.g., discussion blog style), let's say $2 is more-or-less a tolerable price for a gallon of gas, but the price of gas is now $3 a gallon. For the one gallon-a-day driver, that's only an extra buck a day, or $5 a week, or $20 a month, or $240 a year. Big deal. If you didn't spend that cash on gas, you'd just spend a little more on booze. Or food. Admit it already.
Sadly, the media loves this "story" and won't let it go. They've been reporting daily on gas prices for years and they wouldn't know what to do with the air time and print space if they stopped. But we'd still know how much gasoline costs us. After all, we see it every time we fill up.
posted by Leroy at
6:48 PM
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