Exxon profited $10 billion this quarter! Does this not make sense to anyone else?
2006-07-27 05:32:18 · 13 answers · asked by whl04031998 2 in Cars & Transportation ➔ Other - Cars & Transportation
That's what I'd like to know. I tell this to all of my friends when they complain about gas - you'd be surprised that few people actually realize this.
2006-07-27 05:36:00 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Why? Because we elected oil men in to the White House.
Just look what these morons have done:
1. Purchased HUNDREDS OF MILLIONS of barrels of oil to store in US reserves unnecessarily soon after 9/11. This act alone caused the supply to diminish significantly. This was the beginning of the price hike.
2. Invaded Iraq. Thus disrupting the flow of oil. Price hikes even further.
3. Increased tax breaks from $50K to $100K for business owners purchasing SUVs. This tax loophole allowed them to purchase gas guzzling Hummers for basically free.
4. Vetoed mandates requiring auto makers to increase MPG on all cars.
5. Backs fuel-cell technology as the only alternative, thus ensuring our dependence on oil for the next two decades.
2006-07-27 13:39:46 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Because we live in a free market society. Exxon does not set the price of gasoline, and in fact the federal government makes more per gallon than they do.
2006-07-27 12:36:13 · answer #3 · answered by trc_6111 3 · 0⤊ 0⤋
We need to remember that if we had all the oil in the world we can't refine it. There is the bottle neck. Oil prices are artificially high, but with no additional refining capabilities it has very little effect on gas prices.
2006-07-27 12:55:01 · answer #4 · answered by Spenge 2 · 0⤊ 0⤋
Gas is a very inelastic good. We can't live without it. SO the oil companies decide to take advantage of all this. The government has started so many laws about other inelastic goods. They need to start one about oil.
2006-07-27 12:36:50 · answer #5 · answered by christigmc 5 · 0⤊ 0⤋
President Bush owns oil companies.
Figured it out yet?
(the Bush's also own Military Supply companies)
2006-07-27 12:57:05 · answer #6 · answered by mykidsRmylife 4 · 0⤊ 0⤋
Because we have an oil based millionare in the white house. But, I'm suspecting that you already knew that. You seem to be very intelligent.
2006-07-27 12:36:37 · answer #7 · answered by Anonymous · 0⤊ 0⤋
When 3 bucks for a gallon (0.8 for a liter) is much for you, than what should I say? I live in Hungary and in USD I pay 1.45 bucks for a liter of 95 petrol !!!
Heh :D
2006-07-27 12:54:25 · answer #8 · answered by Blazs (Skoda 120GL) 3 · 0⤊ 0⤋
yeah well we dont have anything else which sucks. so we'll continue to get ripped off unless u want to ride ur bike to work.
2006-07-27 13:28:23 · answer #9 · answered by SoREAL 2 · 0⤊ 0⤋
Well if you want to ride you have no other choice or just sit home.
2006-07-27 17:38:01 · answer #10 · answered by Anonymous · 0⤊ 0⤋