I have been beating a dead horse on the gas price issue
I get my data from this chart. A stunning example of why I think the lies about employment and the economy in general are tissue thin at best and will explode soon
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=A103600001&f=M
Next Release Date: 4/2/2012.. can't wait...
Oil prices are not the topic, gasoline prices are the topic. The oil companies bought oil several months ago and now the driving public has no use for the gasoline they refined because nobody is buying gasoline, at beyond historic lows. The refined oil, now gasoline needs to be sold for more money in order to make a profit for the refinery. Refineries are not state owned, they are owned by stockholders who expect a return on investment. Since the buying public will not buy the product at the pace of even three months ago the refiners have no choice but to raise the price of the product in order to satisfy the shareholders in the refinery. The public has to buy the gas at the offered price because the refiners have a monopoly on the gas ... and they can charge whatever it takes to pay for the oil they bought, the cost to refine it and add profit to satisfy the shareholders
Maxine Waters suggested socialing the oil industry.
ReplyDeletehttp://www.youtube.com/watch?v=o3I-PVVowFY
Thanks for responding to the topic Gotta, I was able to see the link also.
ReplyDeleteMaxine is a Twit!
ReplyDeleteRojo
ReplyDeleteHow do you suppose she made it to congress?
Inquiring minds want to know.