Many factors behind gas prices
I recently read “Gas Prices Sneak Higher”, the article talks about the rise of gas prices in Hawaii. But, the article simply states that it is slowly increasing without providing any reasoning, insight or useful information.
Without any prior knowledge on the subject these figures can lead you to believe this is a crisis which is simply not the case. According to the AAA gas prices, Hawaii has the second highest statewide average for regular gasoline as of 2019. There is a direct correlation between the price of petroleum and the price of gas even if it is not immediate.
In analyzing Macrotrends oil vs gasoline price graph, a clear correlation can be made between the prices of oil and gas. A pattern of rising and falling can be seen in the graph as well. Many things influence the prices of oil. Among these are the well known supply and demand, when a supply of a commodity such as oil exceeds the demand of the product from consumers it leads to a reduction in price because it is bountiful, but when the demand of the consumers exceeds the supply of petroleum the price will rise in order to capitalize.
Instability can also cause fluctuation in the price of oil. OPEC or the The Organization of the Petroleum Exporting Countries, is the main influencer of oil prices as they control 40% of the world’s oil supply. OPEC is made up of 14 countries consisting of: Algeria, Angola, Ecuador, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela. Unrest or wars in the middle east, which holds the majority of the company can result in higher petroleum prices.
The methods of extracting oil also plays a part as we exhaust the easily extractable oil from well we have to turn to the more expensive method of getting oil through oil sands which is more costly.
As Isaac Newton once said “What goes up must come down” oil prices are a result of circumstances and events but it remains that we need it and by the looks of it that, won’t change anytime soon.
Ethan Yamamoto, Kekaha
Commentary not worth op-ed
It was astonishing and dismaying to find Kimo Rosen’s vitriolic rant published as an op-ed piece in your (May 6) newspaper. The first paragraph alone was nauseating, and it didn’t improve much going forward.
Mr. Rosen, there is a word that neatly sums up your suggestions regarding new standards for governmental and judicial processes. The word is “fascism,” and it could help save you (and us) time when you next choose to express your ethical and spiritual … perspectives.
Other newspapers might publish Mr. Rosen’s dangerous tripe as a reader’s letter, but certainly not as an op-ed. But here on Kauai I guess we get to apply our own standards.
Doug Clark, Kalaheo
Source: The Garden Island