You won’t see much reported about the true cost of gasoline in our country. The outrageous cost of most commodities is because of Government meddling. I have said that for years. And having worked in the Oil and Gas (OnG), I believe the industry is a good industry – not perfect.
Our Government has tinkered with the value of the Dollar against Chinese money. Yes, the Chinese aren’t happy with that. But, the real problem is that it drove the price of Gasoline up more than 30%.
So, Exxon gets $.02 per gallon. The Govt gets 24 times that at an average of $.48 per gallon. And the Federal Govt intentionally forced up the price more than $1.00 per gallon.
I think someone owes Exxon-Mobile an apology ….
Mark Perry also looked at what the Federal Govt did with inflation: Professor Perry.
In summation: Not only does the Govt make an insane amount of money for no work (24 times what the Gas companies make); and not only do they blame Oil and Gas for being greedy when they get all the money; but, the greed from the Intelligentsia is destroying America. IMHO.
The Govt greed has become too big to fail. And they are destroying the American way of life.
Personally? I think Govt needs to quit tinkering with the economy. What do you think?
I am not certain this is required, but I have done contract work for Exxon and Exxon-Mobile (about 4 weeks in total, more than a decade ago). I do believe they try to do a good job. I do not have that same faith in BP. It would be nice if politicians and pundits would tell us their recent connection, do you agree?