Is boycotting one brand of gasoline, say Exxon, a good way to lower gas prices?
Friday, July 3, 2009 21:44 | Filled in Other - Business & Finance
I got an email that declared if lots of people stopped buying gas from the couple biggest oil companies, they would be forced to lower their prices. After this happened the smaller companies would have to follow in order to keep up with the market. Would this plan work?
Also, if I stood on a street corner and told people this plan, singling out the brand name Exxon, would I get in trouble? Someone told me I could get sued or something.
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Gabrio says:
July 6th, 2009 at 9:31 am
good idea, good luck!
snoopysmaster_001 says:
July 7th, 2009 at 2:59 am
yes….because (IF) everyone done it…eventually Exxon would lower their prices to regain market share and revenue. other companies would be forced to follow suit in order to compete.
As for yelling it out, (Some Exxon thug type hit-men might take you out)…..lol
Sam Y says:
July 8th, 2009 at 3:53 am
Well I’m no expert on this sort of stuff.. BUT:
1) I’m pretty sure you couldn’t get sued, simply because of the amendment regarding freedom of speech. However, they COULD hire a henchman to shut you up.
2) Well a boycott like that would have to be of MASS proportions, like tens of millions of citizens simultaneously boycotting their nearest Exxon gas station. Not very likely, because people still need to get to work.
I guess it’s good to get involved. But don’t hold your breath for results.
*(-.-)* says:
July 8th, 2009 at 3:41 pm
You cant get in any trouble, your in America.
Thats a pretty good idea, i’d join in and help out if lots of people did it, i am pretty sick and tierd of having to put in 30 bux every 2 days…
good luck
bobbyschluter says:
July 9th, 2009 at 7:25 am
The time it would take to lower their prices to a somewhat workable number would take too long for the boycott to last.
Tristam H says:
July 12th, 2009 at 1:27 pm
Remember that the oil company in question will more than likely raise their prices to offset the lost business, this will encourage everybody else to raise their prices as well, so the idea has no merit and will only result in higher prices.
Simple economics…they have something we need and can raise the cost until we reach a point that everybody stops buying or moves to an alternative source of power. Besides OPEC is an oil group that controls the oil supply not just a single company.
DaveE says:
July 14th, 2009 at 4:42 pm
It won’t lower gas prices in the long run, only in the short term. And that’s only if you got enough people to participate, which is probably pretty doubtful. Effectively, what would happen is that once gas prices went back down (at Exxon, let’s say), people would start buying gas from them again, and the prices would immediately go right back up.
You wouldn’t get in trouble for suggesting the boycott– at least not legally. If you were successful enough, you might get visited by the gas companies you were targeting, but there’s not much if anything they can do legally. Worst case they might threaten you with a legal suit just to frighten you into stopping.
DaveE