In business, income is from the sale of products. Profit is what is left over after all of the costs have been taken care of. Therefore, I don’t care what a barrel of crude oil costs or how little damage a hurricane caused. I am concerned only with profits in the petroleum industry.
Year 2005 profit was over $35 billion with about $2.50 per gallon. Cut that in half to $1.25 per gallon and the little darlings would only profit $17.5 billion. Half again to $.62 and they would get about $8.5 billion. Again to $.31 and they would drop to a mere $4.25 billion. Again to $.15 would get them about $2 billion. See how fast they go broke?
Gouging? Of course!
Greed? You bet!
There has been no honest reason to raise prices for some years. The quantity of sales has been due to many more vehicles on the roads and a lot of homes have been converted to oil when the price was $.20 per gallon. Now it takes all of a small pension to keep the pipes from freezing while dressing warm in the house. Doing laundry in cold water and a short shower once a week.
No pollution will do anything as the gougers buy their election for them. They just blow hot air in the new speak form. We should vote them all out every election.
Marshall Longway, Dixfield