Originally Posted by
hcjilson
The only people who percieved the shortage were the media, ergo the public as a result, fueled by the PR releases from the petroleum institute. There indeed has been no shortage of oil, the refineries are back up and running and the oil industry is making unbelieveable profits by gouging the public.The president of Exxon is retiring soon. I heard about his retirement package. As a stockholder, I would be somewhat concerned at what the management I hired, think that man is worth in retirement.Details escape me now but its easily verified. Its easy to pay that kind of money if you can get away with holding the energy consuming public hostage and charging exhorbitant prices in relation to costs.
While I was becoming an optician I also managed to get to get through the school of management at UMASS and spent some time in graduate school studying economics.I didn't learn everything but I wasn't born yesterday. When a filling station fills their tanks up with 35,000 gallons of oil, they pay the going rate for whatever they purchase. When the price per gallon rises 75 cents a gallon OVERNIGHT, as it did last weekned, there were incredible profits realized. If you think thats fair, then there's something wrong with your value system.That may be only my opinion so you can take that for what its worth, but when I see a corporation (heavily subsidised by the government through oil leases) post the largest profit figures of any industry or business in HISTORY, it sends me a warning signal. Its time to wake up and smell the coffee folks.
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