Now the oil companies are openly admitting they are REDUCING THE
SUPPLY of gas they are refining, in order to get the price up. There
was an article in Yahoo Finance about it.
They are getting away with it again. They act together to reduce the
supply. All one big happy greedy family.
.
> Well, it was nice to see gas plummet down to $1.57. The "pump and
> dump" folks on Wall Street made their money on the up tick, and also
> on the down tick, via shorting, and knowing in advance when to short
> it, of course.
You forgot to tell us how capitalism is bad and why you prefer
communism or totalitarian systems of government.
-john-
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John A. Weeks III 612-720-2854 jo...@johnweeks.com
Newave Communications http://www.johnweeks.com
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Considering the oil companies typically make lousy returns (2009 was an
exception and even that was half the return / net profit of Mcdonalds)
and the gas you buy today was likely made from oil purchased on the
futures market last fall, I'm not sure there is any validity to your
concerns.
If the oil company profits bother you - minimize your use of gasoline
and definitely avoid companies such as Microsoft, McDonalds, Coca Cola,
etc.who typical enjoy 2-4+ times the profit margins of oil companies.
In the 10 days since my last fill-up(we get 40mpg in our car), price at the
same station went UP another 14 cents. These increases (now 60 cents a
gallon in about two months at this station) will most certainly have an
impact on Detroit needing more bailout bucks and other kinds of stimulus(I
hate that word). Looking at another rough summer for vacation spots if these
prices continue to rise back to north of $2.50 a gallon or more on top of
everything else.
BAHO
I think gas prices are going up around the world.