Cnn just released a story that Brazil found a strong reserve off the coast that is expected to yeild 5 billion to 8 billion barrels of oil. They are tapped into it when the found it, the US better get down there and start mooooching their butts!
Secondcurve while I do not disagree with you, I do not believe that this is the sole cause, it is everything that everyone has spoken off; Wall St, Chine and India, the Saudi Prince, the terrible organization called OPEC, and all the other factors and political crap and greed that come with oil. I always thought a fair price was $2 a gallon to be honest.
Here is a quick one that will tell you how old I am, in 1996 when I started driving gas was under .80 cents a gallon. 11 years later at the same time, this month I just paid $45 to put just under 15 gallons of gas in my Honda accord, it was down real low
, at a price of $2.99 a gallon.
That is a 375% increase in 11 years, Who has really and honestly been able to increase their income like this. Let;s see the Major oil Companies recording record profits for the past 12 quarters.
Lets talk hurricanes. I find it extremely odd that Exxon was crying poor us when Katrina hit, yet they still had record profits and margins, saying they lost millions in damages and oil flows and production. You are a fool if you think that these companies did not have insurance for the damages and business income interruption for business stoppage, that was paid for by their insurance carriers, I will save you research time, they did.
I do not like government involved, am a floating independent leaning way over to the right in the past few years, but this needs to be regulated by the government. I do not blame the end seller because they need to make a living, I blame who starts the downward spiral. But then again if the gov. got into it, it would probably be more than it is already.
Nothing is going to happen until we all stand up and do something about it, you know all these companies we work for, if we all stop going to work because we cannot afford it because if we stay home we loose less money than it costs to get to work then the companies will feel the pinch and maybe put pressure on the oil market and say hey here comes a depression and because of you guys we are all going to suffer.
Ok I just jumped off the soap box
