Should You Boycott Gas Stations?
As the price of gas continues to climb, there is the inevitable chatter in the office, among friends, and via chain e-mails, that perhaps it’s time we organize boycotts of certain gas station brands – or stop buying petroleum at all – at least for a day. Unfortunately, such a boycott would be useless.
So much for the “great American gas boycott”.
Buy why would a gas boycott be a futile effort?
There are two reasons. While gasoline producers like Exxon Mobil, Chevron, and Shell are enjoying record profits, they are not the reason we’re facing record prices at the pumps. The forces driving our gas prices range from increased consumption in developing countries like China and India, to the prices set by OPEC, to commodity traders speculating on the price of oil futures. Even if every American stopped filling up for a day – or a week, we could do little to impact all these factors.
Secondly, even if millions of Americans boycotted gas (which is highly unlikely), we would only be postponing our purchase of gasoline, not eliminating it altogether. We still need that gas to get to work, and we’re going to buy it eventually, whether it’s today or tomorrow. A boycott works when it targets a particular company and when there are alternatives available. If enough people cease buying brand X and buy brand Y instead, the producer of brand X will feel the pinch. Unfortunately, we can’t all switch over to solar cars overnight!
The good news is that as the price of gas goes up, we make changes in our driving habits and use less oil (whether we like it or not). As that trend continues, the drop in demand for gasoline should ease escalating prices, at least for a while.
However you slice it, the age of cheap oil is over, and it’s high time we start seeking alternatives to burning gasoline as we motor around the country — both personally, and as a nation.
Related Posts
- Would You Buy a New Car to Get Better Gas Mileage?
- Should You Ever Buy a Brand New Car?
- What the Housing Market Means For Under 30 Homeowners and First Time Buyers
- Investing 101: How to Buy and Sell Stock
- Shopping For Your First Car
What's Next?
Reading this site, you're already ahead of most people when it comes to your finances. Why not keep going? Help secure your financial future. Take action today:
- Get help with your debts
- Check your credit report and score, free
- Open a savings account
- Open an individual retirement account (IRA)
- Budget with Quicken
Join the Conversation!
What's your take on this story? Have a related question or comment? Share it now in a comment:
some comments
There are currently 2 of themreply
I'm David, a 20-something ex-financial journalist with a mission: To help you learn about personal finance, take control of your money, and get on with life! More...Take Charge of Your Finances!
Get e-mail updates and a free report: "10 Ways To Improve Your Finances RIGHT NOW". Guaranteed Spam-free. Check it out:
Ask Money Under 30
- Can I claim the $8,000 first-time home buyer tax credit if my name was on the deed, but not the mortgage?
- I’m a 21-year old college student; should I get a credit card to help pay for car repairs?
- Can I use student loan funds to consolidate credit card debt at a lower rate?
- Where should I store a windfall for a few months until I decide how to invest?
- Should I save for retirement or pay down my student loans faster?
All valid points, but what about taking public transportation if it’s available for you to do? I take one bus and one train to work each day (in Los Angeles of all places) but I still have my car. I think in the last year, I’ve filled my tank up about a once a month. Public transportation displaces the thousands of cars on the street, so I think it’s worth a thought.
You’re absolutely right, Michelle, if public transit is available it’s the best option. Though I disliked living in NYC for many reasons, the one thing I loved was being able to get anywhere in the city without a car. U