An article on MSNBC provides 8 reasons why gasoline prices will go up to $5 a gallon this year. All of them are certainly contributing factors. However, the article does not mention the most important reason: oil has a virtual monopoly on transportation. Therefore, the price we pay at the pump results from not having a choice of fuels to put in our cars and trucks.
Since we are almost entirely dependent on a single resource, our national economy and family budgets are deeply affected by shifts that are often outside of individual or government control. Opening the market to fuels produced from other abundant U.S. domestic sources such as methanol from natural gas or garbage would not only introduce price competition but also unburden our economy from the geopolitics of oil that currently weigh it down.+