Wow wow wow!! So many uninformed people in this thread!
I work for big oil, and let me tell you... they are not out to screw us over or rip us off. They dont sit back and say "hey lets raise the price and **** everyone up" That would be stupid business sense first of all. Not buying gas for whatever period of time will do NOTHING. Demanding lower prices will do NOTHING. Whoever said they have family in the industry and they said blah blah blah about the future of prices is totally wrong! No offense, but no one knows jack about what it will do. If you truelly want to know then ask some of the speculators. they are one of the real causes of the increase.
You guys dont realize that the oil companies have to buy the crude in the first place. Yea, they have to spend more if the price of crude goes up. Remember, we have to IMPORT most of our oil. The oil companies PAY for this oil before they can make it into gas. So therefor they have to charge more for the final product. They are among the richest companies sure, but they have among the lowest profit margins of any. They invest the most money of anyone to develop newer and cleaner technologies for energy than anyone. They make about 23% of the price of a gallon of gasoline. Name some other companies that have that low of a profit margin from the product they sell.... yea, thats what i thought...
You wanna know why they are still struggling to keep up with demand in the U.S.? The enviromentalists havent let us build any new refineries for over 30 years! Thats only one reason. So many new restrictions and standards come out every year by the EPA and the companies have to invest more and more money into it all the time to meet the regulations. That equates to having to charge more money to us for the final product. Just this year(and its only March) about 7 new standards have rolled out that we have to meet. The terminal i work at had to spend millions to comply with this shit. This is the type of stuff you never hear about. You gotta dig for it. Inform yourself.
Im not here to say that anyone here is stupid, but please get yourself informed before you just to conclusions. Yea, i think it sucks. Even as an employee i have to pay just as much as anyone else for their gasoline. But i DO have tons of stock in the company and it is doing good. Energy has always been good and/or has recovered better than anything else during recessions because its something that everyone needs.
We spent almost 100 years building the infrastructure around petroleum in this country. Its here to stay for a long time to come no matter what we do. Another problem we have here is that Politics and energy are not on the same time frame. There is "political time" and there is "energy time". Political time is measured in 2 and 4 year cycles. Energy timeis measured in decades. No ask yourself what the **** is wrong with that picure?
Ugh.... sorry for the book but so many of you are totally naive. Im not saying anyone is stupid.. just UNINFORMED.
Sorry for the book:ahhhhh: