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GAS: Greed fueling rising prices at the pump

Letter by Donna J. Greenway, Shelton on March 17, 2011 at 3:35 pm with 4 Comments »
March 18, 2011 9:58 am

I just heard that the profit for Exxon last quarter was $9.2 billion, the highest profit ever by a company in the world. This is the reason the gas prices are climbing – so the billionaires who run the oil companies can keep getting richer.

My husband spends more than a quarter of his paycheck weekly on gas to get back and forth to work. And before you say take a bus, we live in a area that does not have bus service and to get to Auburn to his job that starts at 6 a.m., he would have to leave the house at 2 a,m. Not an option.

We don’t drive a big gas guzzler; we do drive a 12-year-old vehicle because we cannot afford to buy a newer car. We are like a lot of people who live paycheck to paycheck, and now with the gas prices going up and up it is getting harder and harder to make those ends meet.

Something needs to be done about the gouging at the pumps and that is what it is with the obscene profits that are being raked in by the oil companies.

Leave a comment Comments → 4
  1. Fret not, the neo-cons have been telling us that those obscene profits will trickle down and create jobs, thereby benefiting the working man.

  2. Maybe you should ask Obama and the democrats why gas is so high. They asked Bush that question every hour when he was president.

    And, Exxon does not set the price of oil, Wall Street does. They just benefit from the speculators. So remove oil as a trading commodity, and maybe the price will stabilize.

    Maybe if Obama didn’t hate oil and cars, he might actually allow the US to extract some of our own oil from the ground. But that won’t happen, because it is not in the environmentalists whacko’s plans.

  3. harleyrider1 says:

    History lesson. Last refinery built in the United States started up in 1976.

    Several years ago, a Saudi prince came to the USA when Americans were complaining about gas prices. He said America can only manufacturer x-amount gallons of gas per day because they never have increased their capacity. We don’t import gas – we make it.

    Our “newest” refinery is over 35-years old. Technology has changed and we have many more Americans today than we did in 1976.

    Our oil storage facilities have not seen new construction for more than that. We never modernized. Politics and “worried” Americans have blocked every permit and process whenever it has been raised.

    It can only get worse. We import less than half the oil we did many years ago. Check these facts out on line. America plays a large role in this oil argument and its pricing. Greed is one of many factors – but it is not the basis.

  4. R_O and harleyrider.

    Profits are way up. There is no reason for any change to the status quo – if you are an Oil Company.

    This is not a regulation problem……except, of course, the lack of enforcement upon anti-trust violations.

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