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Originally Posted by spidey
3.59 here.
Here's an interesting statistic: Of all the oil companies in the US, NONE of them had an increase in profits of less than 30% last quarter alone.
Conclusion: They are price gouging.
This is a perfect example of why petroleum products should be federally controlled. The entire economy depends on fuel prices. Groceries and retail products must be transported by truck to stores. Expect an immediate jump in price of 20% or more in all areas of retail simply due to the cost of diesel fuel. Heating oil will be no less than 30% more expensive this winter than last and last winter was a record year for people being unable to buy heating oil to heat their homes. The price of fuel affects every part of our economy and if these prices go on for a while, our economy will tank. Bush needs to institute federal controls on fuel prices NOW or the economic recovery will be history and he will hand the presidency to the democrats in 2008.
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Sit and try to think of something, anything you use that ultimately doesn't get to you by a truck. Spidey is right, we're getting killed a the pumps now, and shortly at the checkout at the supermarket AND everywhere else too. The high gas prices are just the beginning. Yup, the feds should step in and put their feet down and do it hard. Problem is, all the senators and congressmen are so self-centered and greedy that they can be bought easily by the oil lobbyists and other oil tycoons. You have 435 congressmen and 100 senators, or 535 people who really control the country. If they were each offered $1,000,000 cash, under the table, to vote against any legislation which would freeze or drop oil prices, etc., it would only cost the oil companies $535,000,000. A drop in the proverbial bucket for them. How many senators or congressmen would not take the cash? Not many if any. We're all f----d, sooner or later. BB