Tuesday, August 16, 2005

Harvest Time....For Big Oil

This summer with the nation focused on the Bushs' war for empire big oil has been playing its usual "Shell" game with the price of gas. They do it every summer but this year they saw the chance to take this game to new heights. Here's how it works; First you keep supplies manipulated so they are kept low. This is easy for them because the control the amount of oil that is refined. Second, you say that there are not enough refineries to keep up with demand. ( This is much cheaper than building refineries.) A finally you set the price as high as you think you can get away with.
This price is also usually just under what the think would cause all out armed revolution. Since buying up most of the independent gas stations their control is almost absolute. And their lust for money is proof.

Let's see how these companies are doing. (even with their trouble of getting enough product to sell)

These are rises in quarterly profits.

Royal Dutch Shell 34%

Exxon Mobil 35%

ConocoPhillips 51%

So there you have it. The best way to make money in this free economy is to make less of a product that everyone needs, and charge more for it.
With Washington in on the game it is up to us. There will be elections next year. If we hold these politicians, who are profiting from the game, accountable and send them back to the boardrooms of the oil companies from which they came, we might stand a chance of shutting down " the game."


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