Posted by
BGH
~
- The wind blew.
- John McCain said something stupid.
- George W. Bush said something equally stupid.
- Hillary lied about getting shot at again.
- All of the above.

Actually, the price rose today not because of any of the reasons above (which I am sure did happen), but because it was
reported that U.S. supplies had a higher than expected decline.
I know, I know... "The company's profit margin is only 12%", "The executives are barely scraping by on the 10 billion dollar bonuses" or "The corporations don't control the price, the market does". I can feel their pain.
It is soon going to be more affordable for me to stay home and collect unemployment instead of filling my tank for the commute to work. The price of groceries and every other product is on the rise because this commodity more than doubled in the last seven years. Is there any other product that influences the cost of everything else, which has doubled in price in such a short time frame?
My question is this, why, in the very least aren't the American Oil companies being investigated for collusion? Or price fixing? Or whatever you want to call it when an industry, pretty much across the board has the same retail price in an area. There isn't a variance, other than tenths of a penny here or there. Surely one of the big three can do business a little cheaper than the next guy, maybe they found a way to process the oil a little less costly, or maybe they have a lower overhead, where is the price war for gas? What may be lost in margin percentage, most certainly would be made up in volume.

The economy is crumbling and fingers are being pointed at factors like inflation, the housing industry collapse, the lending crisis or overseas competition. I can tell you this, eight years ago oil prices were lower, by half, and the economy was fairly stable. Did the war run up the price? Maybe. Did more demand raise the cost per barrel? Possibly. We can be sure of one thing, it does seem awfully silly for congress to investigate steroid use in Major League Baseball when our President is flagrantly disregarding the law and constitution, a war and loss of life continues on that was begun under false pretenses and the middle and lower class citizens of this country are being pushed to the brink. Six hundred dollar rebates are not 'relief' when your home is being foreclosed on, or when you lose your job. I think lower oil prices may help things quite a bit though.
Fuck big oil, fuck their margins, fuck the market and fuck our ex oil-man President, the congress and corrupt administration.
(Previous post regarding congressional dead end testimony from the oil companies,
Congress Asking Big Oil To Answer: "Why Do You Need Free Money With Billion Dollar Profits?")