Last year, Exxon Mobil, Shell and BP posted record profits--to the tune of 1 BILLION DOLLARS A WEEK! One of those three--I think it was BP--brought in more money in 2007 than any other company in British history.
At present, we are staring an average $4 a gallon gas in the face because news pundits say so, despite the fact that, at present, we have 3 times the oil supply that we did last year.
So who is kidding who? There's no shortage of oil right now. Last year, the excuse oil companies gave Americans for high oil prices was lack of refineries. This year is the price of each barrel of oil.
All of it, in my opinion, is an elaborate ruse to incessantly rip of Americans.
The dollar going down and the price of oil going up are sort of related, but not directly. It is a mistake to observe that they are both moving at the same time and think there is a causal relationship.
And just because the oil companies are raking in the dough, you don't know how much of that they're putting back in for development--research, etc. So, profits are split into two parts, what they take home and what they put back into the business. You don't see what they're putting back.
If you don't want to have the oil companies profit, don't buy their product.
The weakening dollar isn't a bad thing--rising, falling, strong, etc. these are relative terms. It is a good thing to have a weak dollar because it increases exports (hence why China artificially DEFLATES its currency), but sure, it is bad if you are buying another, stronger currency.
So you could put all your money in a Euros now-- but Europeans pay way more for gas then 4 dollars (four weak dollars at that) and their currency is rising--so--it isn't causal.
6 comments:
W-I-C-K-E-D!
--Nick-Dog
My comments on oil:
I am not an economist, but I am a news hound.
Last year, Exxon Mobil, Shell and BP posted record profits--to the tune of 1 BILLION DOLLARS A WEEK! One of those three--I think it was BP--brought in more money in 2007 than any other company in British history.
At present, we are staring an average $4 a gallon gas in the face because news pundits say so, despite the fact that, at present, we have 3 times the oil supply that we did last year.
So who is kidding who? There's no shortage of oil right now. Last year, the excuse oil companies gave Americans for high oil prices was lack of refineries. This year is the price of each barrel of oil.
All of it, in my opinion, is an elaborate ruse to incessantly rip of Americans.
--Nick-Dog
gorgeous ... just gorgeous.
i really, really need to talk to you ... i will try calling again soon. love!
Anna, when do you arrive in Front Royal? Would love to see you. Jude is huge. Let me know your schedule!
Sherry
oh, and the book i was trying to remember is The Tipping Point, by Malcolm Gladwell (great name!).
The dollar going down and the price of oil going up are sort of related, but not directly. It is a mistake to observe that they are both moving at the same time and think there is a causal relationship.
And just because the oil companies are raking in the dough, you don't know how much of that they're putting back in for development--research, etc. So, profits are split into two parts, what they take home and what they put back into the business. You don't see what they're putting back.
If you don't want to have the oil companies profit, don't buy their product.
The weakening dollar isn't a bad thing--rising, falling, strong, etc. these are relative terms. It is a good thing to have a weak dollar because it increases exports (hence why China artificially DEFLATES its currency), but sure, it is bad if you are buying another, stronger currency.
So you could put all your money in a Euros now-- but Europeans pay way more for gas then 4 dollars (four weak dollars at that) and their currency is rising--so--it isn't causal.
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