It's worth checking out: in a clear, easy-to-read manner, GOOD shows how the profit on gas is distributed and outlines the major factors that drive price. What it doesn't cover, however, is the ways that oil-producing companies actually use this money. Unfortunately, this is also the most important aspect of the oil market.
Oil is, perhaps, the most effective tool for wealth consolidation in the history of the world. Whether through technological innovation, conflict, or the luck of the draw, certain areas and people have ended up with large amounts of crude petroleum at their disposal.Using the incredible profits generated by this resource, some have carved cities out of the desert, given massive benefits to their citizens, or funded huge infrastructure projects. On the other hand, some have used oil profits to undermine democracy, wage wars, and fund terrorism. Regardless, the political power that petroleum gives to oil producing countries enables them to buy moral silence from the rest of the world. For example, as an increasingly undemocratic
Ultimately, America's devotion to the sweet flaming nectar of the earth makes it impossible for US leaders to launch any sort of substantive offensive against the people who supplying America's lifeblood. After all, Putin, Chavez, and the House of Saud control the flow of oil into the United States; frankly, any sort of serious attack on their policies might lead to a significant increase in the price of that commodity.
As effective as GOOD Sheet #4 is at outlining the tangible cost of gas, it misses the larger price that America pays for its petroleum addiction. In addition to dollars and cents, petroleum also costs the US its moral leadership, freedom of speech, and sovereignty!
Bruce Watson is a freelance writer, blogger, and all-around cheapskate. He's currently working on trying to develop "Democracy Windmills," but people keep comparing him to Don Quixote.