Gas Prices Cause Phantom Pain

And Queen Elizabeth lives on a modest budget of $10k per month. No, really. CNN says that one of those statements is true:

Gas prices are once again dominating the national debate.

But despite rhetoric, high gas prices aren’t hurting as much as they used to.

Of course, this is a bit of an about-face for that particular news organization, as noted by AIM:

CNN showcases Obama’s recent rhetoric about gas prices, while conveniently neglecting to fact check any of President Obama’s claims (as CNN did when covering President Bush’s gas price rhetoric in past years).

Throughout the article, President Obama is depicted as an everyman who is just as concerned about gas prices as you are—and just as helpless as you are, too. There are “no easy answers,” the blog entry concludes, immediately after quoting President Obama’s complaint that such things as natural disasters and pirates were “not in [his] campaign platform.” “Add gas prices to the list,” CNN adds.

The blog entry is strange, given CNN’s past with holding Republican presidents accountable for fuel price spikes.

But, going back to the original CNN article, we find that gas prices are not hurting us because the amount we spend on gasoline has dropped as a percentage of our household budgets from where it was at some point in the past (like the early 1980s).

Please. The price of gasoline (and diesel) are reflected in every purchase we make of consumer goods. Food, for example, is more expensive because fuel is more expensive. The bottling company recoups the increased transport costs for its products by increasing the wholesale cost of a 12-pack of bubbly beverage. And so does everyone else.

Gas prices are simply an obvious (to everyone who drives) and daily reminder of the increased cost of things which are derived from crude oil–that product we are drilling everywhere for (except for where the oil is).

One more snipped from the original article:

Gasoline is a boring commodity, not a flashy new iPhone or pair of jeans.

“There’s no joy in purchasing gas,” said Rao. “People look at it as a tax on driving.”

Yet, it’s one of the few singular products people are regularly forced to buy.

It is, in part, a tax on driving. You know, to pay for roads and stuff. And, no one is “forced to buy” gasoline. Health insurance? Yes. Gasoline? No.

It may be a boring commodity–but your iPhone and your jeans would not be delivered to your door without it.