It’s no secret that consumers continue to get ripped off by the major oil companies. But a new investigative report from NBC news reveals another way the richest corporations on Earth have exploited consumers for their own profitable gain.
The big oil companies – and the industry groups that represent them – have worked tirelessly to conceal what, until now, has been a virtually unknown truth: The hotter gasoline is when it is pumped, the lower the vehicle’s mileage per gallon will be.
According to the NBC report, Big Oil collected an extra $1.5 billion from U.S. consumers as a result of failing to address the issue. Not to mention, gasoline prices tend to increase in the hotter summer months, intensifying the cost burden on consumers.
The technology to prevent the problem already exists: “smart” pumps that adjust the price of gasoline according to the temperature. In fact, these smart pumps are already deployed in 90% of gas stations in Canada.
If Canada – which has one of the coldest climates of any nation – recognizes the need to install the new pumps, then why hasn’t it been done in the U.S., where summers in Southern states are downright sweltering?
Because oil-industry lobbyists have fought long and hard to make sure it doesn’t happen. Several lawsuits against the oil companies are ongoing in some of the warmer states, but the cases are still pending.
Although the NBC report highlights the issue from a consumer-protection standpoint, it fails to mention the wider environmental impact of their negligence. Fewer miles per gallon, of course, mean not only more money, but more harmful emissions.
Installing smart pumps might be a higher-cost option over the short term, but it would pay dividends over the long term not only to consumers, but to the environment.
But, of course, Big Oil isn’t too concerned about that.
The good news is that there is something you can do. Fill up your tank in the morning, at night, or on colder days to avoid handing out extra dollars to fund dirty oil. Or, better yet, forget the gas altogether, and bike, walk, or – if you have the cash to spend – buy an electric vehicle.