I assume that by now, many people reading this will have received an email that is doing the rounds that suggests that buying petrol from Esso and BP is not a good idea and if we can refrain from giving them profits by purchasing at Asda, Sainsbury’s and Tesco et al we will in fact be able to leverage the power of the consumer and force them to reduce prices……!
Hum …. I wonder …… I mean who supplies Asda, Sainsbury’s and Tesco with the petrol that sits in their pumps? Sure that course of action would have an impact on local garages, which may result in closure or redundancies, but would it actually have enough of an impact to have an impact, if you know what I mean?
I’m not convinced, those that know me well are well aware of my tendency to look beyond the obvious to see if there are any other connections going on and I’m still trying to work them out at the moment. But, just for starters there is no real evidence to show that we are running out of oil just yet (the so called ‘peak oil’ theory) – just that certain resources are less productive than they once were (or for the more cynical amongst us, more expensive to continue to work!). You can read more on this at the CERA website or here at Ludvig von Mises Institute blog or even at the Times Online.
Perhaps it is time to remind ourselves that matter can be neither created nor destroyed! and that the only people who benefit from such myths as this are the oil companies who have the perfect opportunity to ramp up the price of petrol by creating a climate of fear that we all have bunker down and protect ourselves and our own.