do you think that the big oil companies are just trying to make money off of us?

Answer 1

Yes OPEC is not increasing the production of oil though they have the ability to do so. This creates a scarcity in the market and increases the price one will end up having to pay. So do to a great increase in China and other nations that are developing the cost of oil has gone up. If OPEC was putting out the same amount of oil they are now say 15 to 20 years ago oil prices would be around .30 to .60 cents a gallon. That means a barrel of oil would be about 20 dollars a barrel. But since the demand has gone up so much for it, and they are not increasing production the price of oil had tripled in the last 2 years. Now we are seeing 2.95 to 3.95 a gallon. So yes, oil companies and more so, oil producing nations are doing this just to make money off the rest of the world. This is a good and text book example of supply and demand. I think they should increase production so that oil is about $40 a barrel. They would still be making a lot of money and we would be paying a lot less at the pump for gas. If this keeps up their greed will destroy them. Nations like America, England, and so on who need the oil will develop other types of fuel. I myself think we should be doing it now. I mean we brought together a large group of scientists during world war II to develop the atom bomb. We should get some of brightest minds together and begin looking at a way our nation can be self supportive on the fuel we use and need to keep this nation running. It just makes good sense from a national security stand point and from a money stand point for our nation. Think about it, all the farmers or people that would be employed in the making of our own fuel. The key is doing it in a way where it is cheaper to produce and get to the pumps than oil is. I think, no, I know we could do it we have some of the most brilliant minds in the world here. There is no reason we should not be working on this now. =)

Answer 2

All businesses are trying to make money and oil companies are no different. My biggest concern with them is if there is if they are making money through illegal practices. I also don't love the idea that we spend so much money via the military protecting their product source. I want my free barrel of oil for my tax dollar spending :)

Answer 3

It is my opinion,they are doing more than,just trying to make money off us.Look at the recent retirement,of one guy,400million,that's a lot of juice!
Why do we fight wars,water,weapons of mass destruction,I don't think so.

Answer 4

It's their job.