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If oil prices go up, gas prices go up, but what incentive to the oil companies have to pass any savings on to the consumer if oil prices go down? The demand for gasoline is pretty consistent regardless of price so why wouldn't the oil companies just keep jacking up the price to make more profit? Is there a way to tie the government oil leases to the price of the gasoline charged by the companies who own the leases? Instead of $3 per year for a government lease, maybe the lease cost can go up as gas prices go up so the oil companies don't keep buying up all the leases to keep them away from emerging competition. If the lease prices keep going up, maybe they would “give back” the leases they are not using and make them available for emerging competition who won’t charge so much for the gas.
By Richard Chapman
