Gas companies and the government must respond and soften drivers’ pain at the pump.

On Monday, record gas prices were set, placing the national average for regular gas at $2.07 per gallon. On March 17, oil prices peaked at $57.60 per barrel. While oil prices have lowered slightly from their high, gasoline prices do not seem to be coming down.

Analysts are listing a number of causes for higher prices, such as an increase in global demand and a supply decrease in Iraq. Whatever the reason, it is the average consumer who is suffering.

Last year, Exxon Mobil earned record revenues of more than $298 billion, pushing them ahead of General Electric Co. as the world’s largest company. Since much of their record-breaking profits have been attributed to rising oil prices, it goes without saying they should have another great year.

Is it fair that Exxon Mobil and its competitors are benefiting from surging gas prices while consumers suffer?

I am not about to say the government should regulate gas prices or that gasoline companies should give up on making profits. But it would not hurt their profits dramatically if they chose to regulate their own prices. Americans are unable to live without gas in our current infrastructure. And there are some who are forced to drive less because of high gas prices. If gas prices get worse this summer there will be fewer road trips and summer vacations. The profits the gas companies are gaining by keeping gas high will mean fewer profits for tourism around the country.

Moreover, while many automobile companies are creating hybrid cars and researching alternative fuels, it will be decades before this affects the whole of the driving public. In the meantime, gas companies need to be sympathetic to their paying public.

On the other side of the coin is the government’s responsibility. President Bush has expressed his concern over oil prices but has not provided many solutions. His first priority is lobbying to drill in Alaska’s Arctic National Wildlife Refuge. More Alaska drilling would be a practical solution if it were determined environmentally safe. As it is, most environmentalists are staunchly opposed to increased drilling.

“We’ve got to use our technology to, over time, evolve away from reliance upon oil and gas, and at the same time use our technologies to make sure we can use our plentiful resources, like coal, in an environmentally friendly way,” Bush said March 16 at a news conference.

Bush’s words are admirable as long as they are followed by action. We have seen our government respond during past oil crises by making similar claims. The government has even gone as far as investing millions to pursue alternative fuel plans only to scrap such projects when gas prices have come back down.

If analysts are right, gas prices will not be changing any time soon. But gas companies need to find a balance between making profits and serving their customers. Likewise, the government needs to provide lasting solutions that will go beyond the current administration.

Columns reflect the opinion of the author and not necessarily that of the Northern Star staff.