by Jimmy Flatbush

Created on: June 23, 2010   Last Updated: June 24, 2010

Gripping images of the Gulf of Mexico oil spill bombard discerning television viewers at the top and bottom of every news hour. Once free roaming pelicans succumb to the gunk that spills out from deep within the Gulf. Desperate pleas for help from people who depend on the Gulf of Mexico for their livelihoods fall on the deaf ears of Washington’s elite. Oceanographic experts graphically depict the currents that will ultimately carry the toxic spill into parts of once pristine coastal beaches. Even British Petroleum (BP) participates in the mass media coverage of the mess they created by running a live feed of the spill from their Website.

The images certainly tug at the heart, especially the ones that show the vapid expressions of rescued wildlife. Nevertheless, for every saved pelican, hundreds more perish before wildlife preservation volunteers find their remains among the tar balls that slowly suck the life out of the Gulf coast from Louisiana wetlands to Florida beaches. The environmental damaged caused by this catastrophe will probably never be adequately measure. What we can measure is how the million gallons of oil spewed into the vast gulf waters will affect gas prices.

The imminent oil price surge has not received the same media scrutiny as the oil glazed pelicans. Even financial site such as CNBC have barely broached the topic. The lack of discussion seems peculiar, since one of the lasting legacies of Hurricane Katrina was how the storm caused a rapid surge in gas prices due to lost production capacity. Economists project oil prices on the basic tenet of their discipline: the law of supply and demand. Oil production will take a huge hit because of the spill, as millions of gallons will continue to spill out of BP’s damaged vessel. It is only a matter of time before the drastic decline in supply causes a sudden surge in gas prices. In some parts of the country (California, Gulf coastal states), the surge has already begun.

BP has become the villain in the environmental tragedy. Following close behind is the Obama administration, mostly because of the administration’s lethargic reaction and its inept management of the disaster. American citizens from both sides of the ideological are sickened by what they perceive to be a lack of compassion and sense of urgency. BP and the Obama administration make for good punching bags, but the real question is who will Americans blame for the inevitable surge in gas prices?

Once again, BP will endure

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