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i' ll bet if you look at the quarterly earnings of the large petroleum companies,they have MAJOR profits!
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I' d bet you' re right, but that' s what companies do! That' s their whole point of existance. Do you think that they go to all the trouble to find, drill, refine and sell oil products without the intention on making a profit out of some benevolent effort to allow us to pay $0.25 less at the pump?
There is one thing that Bush, and your state legislature, COULD do to help the price at the pump, and that would be lower fuel taxes ($0.36/gallon in IA, and a lot more in some states) and allow U.S. oil companies to take advantage of domestic oil sources so we don' t have to be subject to the whims of OPEC. Another thing might be to relax some of the draconian environmental restrictions that the oil companies are subjected to on a moments notice and allow them to work toward them over a more extended period of time. Those regulations cost these companies billions to comply, and quess where they recoup those losses? Yep, at the gas pump.
Are oil companies in contention for sainthood? Nope. But are their boards of directors, as the liberals in congress and Hollywood would have us believe, run by men seething with evil intention and hell-bent on breaking the average Joe by stealing his last dime at the gas pump? I don' t thing so. It just goes to show that it' s easy to hate the big guy and make him out to be some terrible evil, but in reality it' s just business. If you worked for, or owned, an oil company you' d be singing a very different tune. And let' s also not forget that the $1.60/gallon we pay today, adjusted for inflation, is actually less than what gas cost in the late ' 70' s and early ' 80' s. All in all, gas prices have been lower in the last ten years and are really just now cathing up to where they should have been all along. I think that it' s just the suddeness of the jump that has shocked people. If the prices had crept up gradually at 2-3% per year, nobody would be bitching about it too much.
My opinion is still that the government has no business telling a company how much or how little it should produce, nor should it force them to sell their product at a price below what the market dictates. To do so causes more harm than good in the long run, and is also fundamentally wrong.
Mike