| I heard three reasons for the hike in price:
1. New regs for additives produced higher refinery costs.
2. "They" underestimated the demand for the year, because China and India are sucking up millions of barrels more than expected.
3. OPEC is finally acting like a true cartel--rogue nations are falling in step when Saudis say to limit supply.
In my opinion none of these reasons account for the DOUBLING of #2 price in less than 18 months. It's plain old greed. I guarantee it. It is a frenzy of companies running up the price, loving the profits and not seeing any real pushback from Joe Public. They've got us by the short hairs. They know it. And we're all to busy just making ends meet to do anything meaningful to change the situation. Meanwhile, oil companies' greed is driving up commodity prices across the board and this great nation into a certain recession. Is it revolution time or what. Only this time it's big oil instead of foreigners.
That's my two cents worth. |