Saturday, April 23, 2005

ONE MORE TIME -- BIG OIL

Please....please...someone explain to me how major oil companies are not robbing us blind.

Following the summer of 2001, nationwide gasoline prices dropped to a level of around a dollar a gallon.

They remained at this level, thereabouts, until January, 2004 with only slight ups and downs in the markets.

Then beginning in January of 2004 and continuing through September gas prices sky rocketed from $1.00 to $2.00 per gallon and more.

During this corresponding period of time profits and share prices at Mobil Exxon rose a whopping 43 percent.

Now if the price of crude oil is affecting the price we pay at the gas pump, how come it is not affecting the bottom line profit of the oil companies?

You can answer that question with two words -- price gouging.

The other day a guy in Dallas robbed a man at a service station gas pump. Police caught him a few minutes later and hauled him off to jail.

Each week one of the big oil companies robs me at a service station and the police do nothing.

Oil scarcity is one of the big problems causing today's high gas prices, we are told.

And today, a gallon of gas costs 38 cents a gallon more at the pump than it did a year ago.

But did you see the report issued the other day by the Department of Energy?

DOE figures show that America's stockpile of crude oil stands at 318.9 million barrels, up eight percent from this time last year. The gasoline stockpile is 211.6 million barrels, up five percent from a year ago.

Where is the shortage?

Two things the George Bush administration has miserably failed us in

1 -- Illegal immigration

2. -- Oil prices

I hate governement control in private industry, but the time has come for the feds to intervene and put a quietus on what big oil is doing to us

No comments:

Post a Comment