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Tuesday, March 15, 2011

2011 Gasoline Profiteering Again

Gasoline prices are soaring, again. We are told that the supply has not been interrupted and that supply is just fine. We are also told that fear and anxiety is driving the price up.

Is it possible that fear and anxiety might also be known as oil companies and profiteers. If there has been no decrease in available supply one has to wonder why the oil companies are raising the prices. Fear and anxiety can’t tell the gas stations to raise their price but oil company executives certainly can.

Is there any benefit to the American public by raising oil prices? Is there any benefit to the oil company’s bottom line by raising prices, gouging the public and benefiting from the anguish of the consumer who must choose between filling the tank or buying milk for the kids? Sure, more profit in off shore bank accounts and record profits must negate the negative impact on economic recovery. Why else would otherwise normal human beings inflict such economic pain on their fellow Americans?

Some claim that higher gas prices will force us to find alternative energy sources to decrease our dependency on foreign oil. If oil companies actually diverted the bulk of their excessive profits to research that might be true. Sadly they don’t.

I don’t have a solution; if I did I would be shouting it from whatever soapbox I could find. Power corrupts and there are few corporate entities more powerful than oil companies. If common sense would prevail for just an instant in the oil company psychic, they would realize that a strong, growing economy would be a better option for their own growth and long term profitability instead of trying to gouge out short term grotesque profits based on fear and anxiety.

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