[jasonraymondson]

$this->bbcode_second_pass_quote('', 'M')ost people cringe as they drive by a gas station these days. The rising cost of gasoline has many people wondering what they will be paying a few months from now and how it affects the economy overall.

However, though it is damaging to the economy, there are a few positive outcomes of high gas prices, said Tom Wyrick, Missouri State professor of economics.

"If the price is not going up, then we aren't sending the signals to producers to find more oil," Wyrick said. "So we would keep consuming gas at $3 a gallon, and in 15 years, we would be walking.

"Since the prices have been higher, there has been more of a rush to find the stuff. They dumped tons of dirt up in the arctic and made an island in an effort to find oil."

Wyrick said that it was Ronald Reagan's deregulation of oil prices that eventually led to what we are paying now. However, at the time, the deregulation actually reduced the prices of oil.

Ronald Reagan, in his radio address to the nation on Feb. 26, 1983 said, "You don't have to go any further than the nearest filling station to see that prices have gone down, not up, since decontrol, just as we promised they would. The economic realities of the marketplace have done more to bring down the price of oil than all those years of frenetic government regulating."

Individual owners largely affect the price of oil at the moment, Wyrick said. When owners of oil hold off on distribution in order to create more demand, the delay forces the prices up.

[vision-master]

$this->bbcode_second_pass_quote('jasonraymondson', '')$this->bbcode_second_pass_quote('', 'M')ost people cringe as they drive by a gas station these days. The rising cost of gasoline has many people wondering what they will be paying a few months from now and how it affects the economy overall.

However, though it is damaging to the economy, there are a few positive outcomes of high gas prices, said Tom Wyrick, Missouri State professor of economics.

"If the price is not going up, then we aren't sending the signals to producers to find more oil," Wyrick said. "So we would keep consuming gas at $3 a gallon, and in 15 years, we would be walking.

"Since the prices have been higher, there has been more of a rush to find the stuff. They dumped tons of dirt up in the arctic and made an island in an effort to find oil."

Wyrick said that it was Ronald Reagan's deregulation of oil prices that eventually led to what we are paying now. However, at the time, the deregulation actually reduced the prices of oil.

Ronald Reagan, in his radio address to the nation on Feb. 26, 1983 said, "You don't have to go any further than the nearest filling station to see that prices have gone down, not up, since decontrol, just as we promised they would. The economic realities of the marketplace have done more to bring down the price of oil than all those years of frenetic government regulating."

Individual owners largely affect the price of oil at the moment, Wyrick said. When owners of oil hold off on distribution in order to create more demand, the delay forces the prices up.

[Troyboy1208]

Use the Short link option please

[MD]

$this->bbcode_second_pass_quote('Troyboy1208', 'U')se the Short link option please

[jasonraymondson]

$this->bbcode_second_pass_quote('MD', '')$this->bbcode_second_pass_quote('Troyboy1208', 'U')se the Short link option please

[Magus]

I replied, if it makes you feel any better.

I have a personal stake in this, since this is coming from a professor of economics at the very university I will soon be attending! That is, if everything doesn't quickly go to hell in the time between now and August.

Perhaps I should consider my choice of institution? Not that it even matters, since I don't plan to take any courses anyway. (Boring shit)

But still, it's a little unpleasant to know that I may be more knowledgeable in a concept that I have very little interest in than a freaking tenured professor at the very institution that's supposed to be teaching ME. Why is that, I wonder. Perhaps I flatter myself, but still, I doubt...



Although, somehow, I come to the intuitive conclusion that I will encounter similar ignorance no matter what university I choose to attend.

jasonraymondson, do you attend MSU or are you from the Springfield, MO area? We could keep in touch if so.

[jasonraymondson]

$this->bbcode_second_pass_quote('Magus', 'I') replied, if it makes you feel any better.

I have a personal stake in this, since this is coming from a professor of economics at the very university I will soon be attending! That is, if everything doesn't quickly go to hell in the time between now and August.

Perhaps I should consider my choice of institution? Not that it even matters, since I don't plan to take any courses anyway. (Boring shit)

But still, it's a little unpleasant to know that I may be more knowledgeable in a concept that I have very little interest in than a freaking tenured professor at the very institution that's supposed to be teaching ME. Why is that, I wonder. Perhaps I flatter myself, but still, I doubt...



Although, somehow, I come to the intuitive conclusion that I will encounter similar ignorance no matter what university I choose to attend.

jasonraymondson, do you attend MSU or are you from the Springfield, MO area? We could keep in touch if so.