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Big Oil -- Out of Control!
Blogged by: mr_savvy - View More
Posted on: 01-11-2006 @ 06:36 pm


Blog:

<p>For the second time in six months gasoline prices hav soared above $2.50 a gallon, home heating oil is up 25% above last year and Diesel fuel is approaching $3.00 a gallon! What's going on? Last fall hurricane Katrina devestated the Gulf Coast and many refineries and oil facilities were shut down, damaged or destroyed. I can understand that a disruption of this magnitude could cause short supplies and large repair costs for the oil companies. But why through all of this devestation were all of the major oil companies able to produce record profits? Why were all of the costs dumped on the backs of the consumers while the stockholders sat back and enjoyed windfall profits? It would seem like if you own something (and stockholders do, in fact, own the oil companies) and it breaks, is damaged, or destroyed, you the owner should have to bear the cost of repair or replacement rather than profiting from the loss at the expence of the consumer.</p>

<p>Now, less than six months later, after a modest reduction, gasoline prices are again rising dramaticly. Why? Because, of course, we in the northern part of the country are  now into the winter heating season. And big oil tells us that they have shifted refinery production over to home heating oil, thus creating a shortage of gasoline and diesel fuel. So naturally, when any product is in short supply the producer and seller can charge a premium price. </p>

<p>So my question is: Who in this country regulates the oil companies? Shouldn't the government have some control? Rising fuel prices causes inflation. The federal reserve in order to control inflation has raised the prime interest rate 13 months in a row. Again, a move which ultimately hurts the consumer because interest rates on all short-term debt increases. Not only do you pay more on your credit card balances, but every business that buys stock on credit (car dealers, grocery stores, farm suppliers, and so forth), have seen their costs increase and therefore must increase their prices to the consumers. How about our government stepping in and stopping the oil companies from price gouging and ripping off the consumers. </p>

<p>Unfortunately, and I hate to say this because I am a staunch Republican, conservative, and Christian, I believe that our current administration has too many ties and too many friends in the oil business and instead of curbing big oil's record profits, introduced legislation to give the oil companies tax credits to do more exploration!  </p>

<p>It's time for "We the People" to stand up and complain!</p>

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Profile: mr_savvy

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Last updated on 01-11-2006 @ 06:36 pm


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Comments By: TheBadger
(Posted on 10-25-2007 @ 02:18 am)

Comment: It's hard to even imagine how people use to live without electricity, running water. Transportation was by foot or horse. Hummm....... It will all be back that way.

Comments By: TheBadger
(Posted on 11-19-2007 @ 06:15 am)

Comment: Trouble not yourself with things of this world. Set your eyes upon what is pleasing to God ? Do that which is right in His eyes. For when the disciples ask Jesus when will the end come ! Jesus told His disciples not to worry what is to come. But, what is at hand and go forth and feed His sheep. Teaching His way of Righteousness, and being obedient to the Word of God.......
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