The Free Press, in its infinite wisdom, has placed stats on oil and gas prices on the first page of the City Section. With oil barrels up 0.04% in the past day, and gas up 11.45% in roughly the same period….it must be a conspiracy to overcharge the little guy!
But – wait for it – oil and gas are different! Gasoline is a product derived from oil through refining. And 20% of the North American refining capacity is shut down by the Hurricane. Let’s do a little Economics 101 here…Refineries are shut, so DEMAND for oil goes down. Refineries are shut, so SUPPLY of gas goes down. When demand for oil goes down, then the oil price goes down. When supply for gas goes down, then the price for gas goes up. No conspiracy here. Just a complex system.
And that system is the subject of oversimplification by the parties – pandering for votes based on emotions. I spoke with Elmwood-Transcona Green Candidate Chris Hrynkow this morning about this. He thinks that we need to look at this from a system perspective and consider how we design our communities. He suggests that an LRT (Light-rapid transit) system is more cost efficient; caters to the needs of seniors, students, and working people; and, that such systems insulate us from the effects of major natural disasters. We are in an interconnected world, and need to consider the wider system, not jump to conclusions based on short-term data.
I really like working for Chris. Clear-headed analysis and real solutions, not (as the Freep calls it) “hot air”.