Wednesday, May 21, 2008

Hot Potato

I've been trying to follow the saga regarding the price of gasoline in America and frankly, it sounds like a game of hot potato. Nobody is holding the answer, or wants to . . . President Bush asked Saudi Arabia to pump more oil, but couldn't get the King to budge, and I thought the two of them were close . . . The King said OPEC was meeting the demands.
Next, Congress hauled in the Oil Execs, again, only to hear the same answers to the same tired questions. Supposedly, the huge profits are completely out of the Executive's hands and the huge profits are not what is affecting the price at the pump. Well, okay. I really would have thought the Executives were making some sort of executive decisions for the oil companies and I certainly would have guessed that the price at the pump was related to the profit margin. Who knew? And oh, by the way, for all the pundits getting their listening audience up in arms. According to the Executives of the big oil companies, there are plenty of refineries, and they are only operating at 85% capacity. The oil executives think we need to drill where the environmentalists don't.
So far, no one is to blame, that gasoline is hovering around $4.00 a gallon. The suggested tax moratorium on gasoline for the summer has been scoffed at and belittled, so we all know that's not going to happen.
President Bush vetoed the farm bill, because we just can't have "all those rich farmers" getting breaks. In the grand scheme of the American economy, just how many farmers are there, much less rich ones? I haven't yet found the actual numbers as to the amount of tax rebate the oil companies are getting, but I do know big business is getting 1/3 of the rebate money.
With inflation, grocery prices increasing, recession, and Ben Bernanke's last appraisal which is worse than last month, I think I know why gasoline is so high and nobody is to blame and nobody can fix it. It would appear, the gasoline problem, as with the other problems mention, truly lies with the devaluation of the American dollar.
Go to now, ye rich men, weep and howl for your miseries that shall come upon you. Your riches are corrupted . . . New Testament

No comments:

Blog Archive