Sunday, November 02, 2008

So, let me get this straight...

Exxon-Mobile HAD to raise gas prices because the price of oil had gone up and the refineries were still damaged from the hurricane season from last year and consumer demand was up and...and....and....and what?

I believe in a free market economy and the right to make an honest dollar. The key word here, however is HONEST. Because gas prices were so high it cost more for farmers to gas up their farm equipment. It cost more to ship the produce to market and more to ship to the consumers. Consumer prices went through the roof over the summer and fall because everything they needed and or wanted had to pay higher fuel prices to get to them. And yet Exxon-Mobile made record PROFITS.

Explain to me, please, why this isn't being just absolutely jumped on by our congress? It seem seems to me, that their GOUGING caused ENORMOUS suffering for nearly everyone in this country and yet they announce how rich they are, while the rest of us are eating mac and cheese and bologna sandwiches a lot more often, because food prices have gone through the roof!

Explain to me, why this isn't a criminal offence. I believe in supply and demand, but that does not make it right to twist the knife so deeply that nearly every other industry suffers because of ONE industries greed.

I don't know what the answer is, but this has GOT to be wrong. Explain to me,if you can, please, why it's not. 'Cause I just don't understand.


Kim said...

Oh it's wrong... very very wrong. I don't know where they come up with this stuff.I wonder if they believe what they say.

Sue said...

Not necessarily defending the oil companies but I think it may be under reported that for many, many years when oil prices were so low they didn't make much profit at all and now have to make up for slower times in the past and to come.
I'm from a small town in the middle of Michigan that they call the Oil Capital of Michigan. My high school sports teams were called the Oilers ;) Anyhoo, there have been two oil booms that I can recall. One was before I was born in the late '30s and another in the late 70's and not another one since all the environmental protections went into effect. Several people made a lot of money during the booms. Most of them blew their money thinking the boom would last for ever. Well it didn't and they went broke.
I'm not saying I have any information other that antidotal but maybe all the profits that the oil companies have made in the past few months is the first they have made in a long time and might be the last they make if prices go back down, which I dearly hope they do.
Well that's my 2 cents worth of a guess as to why the huge profits came about.