Sunday, November 23, 2008
Hey, Big Oil-can i have my money back?
Is it just me, or is something not right here? Gas prices spiked nearly $1.50 in about 18 months, and then fall back HALF of their high...And, in the midst of it all Exxon reports its biggest quarterly profit margin ever-over $14 Billion. Yup, that's a "B"...How does this work??? Something about this just effing reeks to me. For over a year we apperently overpaid for gasoline and oil at the pump (I havent looked but it wouldn't surprise me if home heating costs are being overpaid as well), what other conclusion is there? I'm fully aware of the huge fluxation in the price of a barrel of crude on the exchange markets, but the exorbitant profit they claim to be making don't add up. Assuming no drop in consumption, if Big Oil's costs were truly related to the cost a barrel of crude then how can profits go up without a major shift in profit margin. The total profit recently reported by Exxon doesnt seem possible to me given the high price of crude which is-so we are told-the majority contributor to the price of gas at the pump. Needless to say, I believe myself, and every other consumer, deserve to know exactly how much they should have been charging us at the pump for the last 2 years...Don't get me wrong-I'm all for captialism. But if what I believe to be going on behind closed doors in Big Oil is actually taking place, then I want every single penny they ripped off from me back! The effing thieves. Whats more, for once, I want the Fed involved-but with a new stance-the recognition that transportation is the lifblood of any stable and thriving economy. And, unfortunately, in Nov of 2008, oil is a huge freaking part of our transportation system. In fact, I would go so far as to say that oil is essential to our current transportation system, which makes it pretty relevant...Anyways, I digress...But not before I ask again "Where the #$% is my money Big oil?"
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