It was so beautiful today driving around town and seeing the $1.99.9 price on gasoline. Only wish I hadn't filled up at $2.06.9 a couple days ago.
Despite our good fortune, I have to ask why? Why have our prices fallen nearly a dollar a gallon in less than a month? I thought we were having a shortage. That's the story big oil (and the White House) sold us.
I read a lot of news (online and onpaper) and have yet to see where any hurricane-damaged refineries (if there actually were any) that had been taken off line have gone back ON line. I haven't read of any offshore oil platforms going back on line.
What I have heard is Congress, specifically Congressional Democrats, beginning to put the heat on the oil companies. And beginning to look with a skeptical eye at record profits in the last quarter. Obscene record profits.
Coincidence? I doubt it.
Aside: Please don't give me any of that bullstuffing about supply-and-demand change and the free market at work. Given the market we've had the last year, in relation to gas, oil, diesel and heating oil there is no free market. When one company sneezes, all the others reach for tissue. If you don't understand that you're living with your head so far up your gas pump you are unable to acknowledge reality.
Someone or some entity is starting to look at the record profits made by the price gouging oil companies. And if they're busy defending their obscene gas profits, they just aren't gonna be able to start the winter heating oil gouging in time to make -- even more obscene record profits.
Nevertheless, when it comes to gas price ... let it fall, let it fall, let it fall.
And so it goes.
3 comments:
The whole economic argument I hear on the oil & gas prices is bullshit. It may be true for the commodity pricing, but by the time it trickles down to the gas station there is big time collusion and price gouging. How is it that the price of gas is nearly identical everywhere and an event taking place results in an immediate price increase before it even effects the next day of trading on the commodity market? Simple...the most obvious answer is the correct answer here and it is price gouging.
Of course it's gouging; you can talk all the Adam Smith vs. Keyensian vs. free market bullstuffing theories forever and it still comes down to government sanctioned profiteering.
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