It's called good ol' gas-o-line, or petrol depending on where you live, but on Wednesday in Atlanta, Georgia--it's called bullshit with a capital "B." Yesterday morning the Atlanta Journal published a bit mentioning a shortage on gas due to Katrina's damaging oil refineries in the Gulf. That was the beginning. By the afternoon, around 2pm, rumors were flying rampant across cell phones, PDAs and emails..."the state is going to stop selling gas at 4pm. At 6pm. There's no more gas, you better go and fill up if you want some for the holiday weekend." And all of a sudden, lines were forming outside of gas stations in the Metro Atlanta area.
That's called "a run" on gas. There can be a "run" on just about anything. Take for instance, in the holiday classic, "It's A Wonderful Life," by master craftsman and propagandist Frank Capra, the scene when there is a "run" on Jimmy Stewart's bank. The people get scared, rumors fly, and they all want their money at once. But Bill's money isn't there, it's in Fred's house, etc. That's what happened with the gas yesterday. Everyone wanted their gas at once and it just wasn't there. And I could almost bet that there is some sick, old Mr. Potter of oil orchestrating this fiasco...too sick and frail to do it hands on, so he sicks his minions over the internet to perpetuate the panic.
So back to the story, I had filled up just before all this started, paying $2.79 a gallon at a QuickTrip in Lilburn. Three hours later at 5pm in Sandy Springs, Roswell Road was plugged up with people queuing out onto the road, backing traffic up even more than usual. And they didn't even have prices up anymore!
By the time my friend and I got back from dinner, there were reports of gas in Atlanta going as high as $6/gallon (yes, the pic above is from Atl.) Therefore, with the great spike in demand, gas stations actually began SELLING OUT of gas...feeding to frenzy. People were still queued up at filling stations at 11pm when I drove back home.
I've seen the unforgetable photos from the 70's during the "oil shortage" with endless amounts of cars lined up for a bit of gas. But I've never seen such a thing as this with my own eyes. I think it's pathetic that fear and panic can take over people common senses and other the other side of the spectrum--that there are assholes who will gouge the consumers when they smell said fear. It actually sickens me. I hope that the state of Georgia will do something about this foul breed of opportunists who jacked up the prices of petrol unduly, but considering our governor, one Sonny Perdue (the great champion and main pawn of Atlanta Gas Light's deregulation of the natural gas market in Georgia), that seems like an unlikely scenario.
I won't go into any in-depth tyrade on the intracacies of Supply and Demand--but what I will say is one word, and it's a hard one for human beings in general, and Americans in particular to grasp...and that is "Moderation." Now to some Europeans reading this, they might find that Americans drive their autos too much anyway. True, but the automotive, gas and insurance lobbies work very hard to secure the status quo and keep New York and San Francisco as pretty much the two
main cities you can live comfortably in without a car. So it's not our fault. The huge cars and Sports Utility Vehicles, Ok, that's our fault. But moderation, folks...especially in times of crisis. It's called rationing, and to me it seems rational. Because, dig this...
"There is a supply problem; there's been a reduction in the amount of gasoline available. People still want to drive, so the price is going to go up," Bernanke, chairman of President George W. Bush's Council of Economic Advisers, said on C-SPAN television.
And it doesn't look like it's going to change anytime soon.