I'm fairly frustrated with oil companies and have been for a long time. I think that a lot of it comes from the fact that, even with a fuel-mizer of a vehicle, I still feel pain whenever I take it to the pump. Yesterday I received an e-mail with some articles from AGC Smartbrief and they had featured an article from Bloomberg (http://www.bloomberg.com/apps/news?pid=20601072&sid=a9L6sUoZB8Qo&refer=energy) where our President told citizens to expect a "pinch" post Ike. Here's where I get annoyed:
About two weeks leading up to Ike, gasoline prices increased because of the pending crisis. After Ike, though the Coast Guard reported that only 10 rigs suffered minor damage (no leaks, nothing structural) the price held strong or increased here in the Midwest. Now if they are not restarted in a timely fashon we're in for more increases...and all of this while oil currently sits at below $100 a barrel and is overvalued by almost a dollar per gallon at the pumps.
So why is the gasoline so expensive? What is the motivation is there in the industry to restart the refineries quickly if it can artificially inflate prices? With a track record of increases and then only partial decreases post other events (Iraq conflicts, etc.) that affected supply, will the prices stay partially inflated anyway? Who do the oil companies think they're fooling when they do this? What recourse does Joe Six-Pack or Joe Bag-o-donuts have when the US isn't designed to use mass/public transport? Who is protecting the public from this blatent greed and gouging?
I don't know...you can draw your own conclusions. Feel free to post comments and share your opinions on the situation.
Just some food for thought.
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