Big oil wind fall profits
Image by Getty Images via Daylife
I just watched Gas prices go from $3 to $4 a gallon this last week.
The OIL companys are repricing their current stock to the market.
So OIL they bought eailer at a lower price which is in the pipe line now,
just got repriced to the current markets higher price.
Let me explain.
Wheat was around $3 a bushel,
and my box of Wheaties was about $3 a box.
Now when the price of Wheat peaked at $12 a bushel recently,
The grocery stores did NOT go back and re-price every box on the shelves ,of Wheaties at $12.
This Method of pricing all oil in the pipe line to the market creating win fall profits might not be illegal, but but it seems unpatriotic. And should be taxed heavily.
The oil companies are raking unheard of oil profits unprecedented ever in any industry,
and taking advantage of US citizens and the Government. We have a WAR that runs on OIL.
We will have poor freezing to death this winter, because of this.
This recession is going to hit VERY HARD.
Oil production has peaked, and world is converting food stock to fuel.
WE will never see $3 a gallon gas again. $4 a gallon is just the start.
Oil and food tripling in px in the past year.
Globalization and labor arbitrage will continue to push USA wages towards world averages.
An incremental decrease in American standards of living, adjustments must be made.
While rising food and fuel prices will have a negative impact on the US economy it will devastate American poor and 3rd world economies and spur insurgent activities.
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