Oil Companies Exploiting Gas Crisis?
According to a study released Tuesday by the Foundation for Taxpayer & Consumer Rights, oil companies are using rising crude oil prices to smokescreen record profiteering.
The study found that the price of gasoline rose far faster than the price increase oil companies were paying for crude oil. Reads the press release:
- "Increases in the "spot" market price of crude oil -- which is the highest price a major oil company would pay for crude oil -- accounted for only 12 cents per gallon. California's percentage sales tax increased fuel prices by another four cents per gallon. More than 40 cents of the 60-cent increase in gasoline prices over 3 1/2 months is attributable to increased refinery and marketing profit margins for the oil companies"
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Comments:
What? Oil companies exploiting high oil prices to jack up prices at the pump? I'm shocked! Shocked, I say!
Funny, I'm just reading www.lifeaftertheoilcrash.net today, and it's making the gross overprofitting make much more sense. If you're a huge moneymakingmachine who plans on being around for a few more decades, you don't want to bleed your market dry. BUT, If you're guaranteed to be 9/10 of the way down the toilet by 2010, wouldn't you suck every penny you could out of everyone while you still could?
Don't be upset. Think ofhow much fun we're going to have lynching them later, after the collapse of civilization! ;)
-M.
If you want to make a boatload of cash in the short term, invest in oil stocks, I guess.*
*warning: hidden costs include your own soul
i mean, we all KNOW that's where the money is going, but what's anyone gonna DO about it?