I’ve heard the same story a few times during the last couple years - “Hey, if everyone doesn’t buy gasoline on such and such date, then the oil companies will lose billions of dollars and they’ll have to slash prices dramatically! Yeah, power to the people!” or some similar nonsense which always makes me question why I’m even talking to the person in the first place.
Ignoring the obvious impracticality of organizing a nationwide boycott, the only thing this would accomplish would be to delay fuel purchases for a day or so, but it wouldn’t actually affect the supply, and thus the price, of gasoline. The only people who would be affected by such a boycott would be gas station owners, and while some of them might be not be great guys, it would be pretty harsh to take their livelihood away from them for a day.
I’m sure most Binary Dollar readers were smart enough to know all of this in the first place, but if this is news to you, please don’t feel discouraged and powerless. I mean, you still have the power to prevent forest fires. That’s something, right?
Related Article from CNN Money
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