mountaingirl_1230 asked:
I think it is very interesting that we are all paying insanely high gas prices based on “supply concerns” while major oil companies continue to post record-breaking profits every quarter for the last several years. People are driving less than ever right now and oil companies are still making big bucks–doesnt that mean that they are just charging us a lot more than the actual cost of oil in order to get those huge profits? Why is it that at a time when the rest of the economy is going down the tank, that big oil companies are still raking it in?
I think it is very interesting that we are all paying insanely high gas prices based on “supply concerns” while major oil companies continue to post record-breaking profits every quarter for the last several years. People are driving less than ever right now and oil companies are still making big bucks–doesnt that mean that they are just charging us a lot more than the actual cost of oil in order to get those huge profits? Why is it that at a time when the rest of the economy is going down the tank, that big oil companies are still raking it in?
How could you even ask this question?!?!
Gas is 4 bucks a gallon and the oil companies are raking in money.
It’s all just a coincidence? And the fact that the price of gas went up .25 cents a gallon when the stimulus checks came out? Coincidence too?
In a free market economy, the basic principle is “Charge all the market will bear”. As long as we’re willing to pay those high prices, the oil companies can charge them. When you consider what folks in Europe pay, apparently people are willing to pay even more than we do here in the US so hang on to your hat because I’d bet prices will go much higher.
Please don’t labor under the illusion that a profit-making business’s first priority is Mother Theresa style charity. A corporation has a Board and shareholders who demand the highest levels of financial performance and will very quickly sack executives if they don’t create it.
Are we being gouged?
Do we really need to answer this?
Big oil is smart and they are backing a lot of politicians. Politicians need money for their campaigns. Big oil has the money and feeds it to the politicians. The politicians then become slaves to Big Oil. The politician is supposed to represent the people from whence the came. Big Oil tells them, “Hey I gave you all this money so you could get elected and this is how you are going to treat me. I got you in and I’ll take you out.” Politician becomes the puppet for Big Oil. The American public is getting killed but thanks to our spineless politician who is supposed to represent the American public we starve while he gorges himself.
It’s the American way. Rich get richer, poor get poorer.
An opinion you might not want to hear……
Yes we are being gouged but not by oil companies ………
We are being gouged by the state & federal government that not
only tax the oil companies but then place taxes on all types of oil products we as consumers buy.
Some fact
1)Oil Industry Taxes Have Outpaced Oil Industry Profits Since 1977
2)Economists estimate that U.S. companies currently spend nearly $150 billion annually to comply with the federal income tax alone
3)Here in the US we pay an average of 45.9 cents per gallon in gasoline taxes
We are being beyond gouged….we are being ***** and not by oil companies, but by our own finger pointing government.
OPEC will keep producing millions of barrels a day, but if the US lowers it consumption, then they will lower the price….However, Oil compnaies and lobbyists know how to work the politicians to keep the prices high and the stocks higher.
Oil companies would actually prefer keeping prices under control so their costs don’t go overboard. (Look at oil stocks vs oil prices and you’ll see what I mean) I can’t believe how many childish idiots are blaming oil companies for their problems. You should be solving your own problems by trying to make a bit more money to keep up with inflation. Invest in your future.