Friday, May 23, 2008


Oil execs say their hands are tied concerning oil and gas prices (merely a reflection of supply and demand) and that (insert oily voice here) perhaps the prices would come down if they were allowed to increase domestic supply by drilling in places like ANWR (Arctic National Wildlife Refuge) and the Rockies, places they've been restricted from up to this point.

Forgive my cynicism, but aren't these guys making $30-40 billion in profits, making record profits? And it seems a terribly convenient argument, considering these outrageous prices that they've set would finally allow them to drill where they've always wanted to.

Now, I'm not saying that they're greedy little bastards or anything. And I understand that prices aren't completely in their control. Nevertheless, it's a bit much for someone who has to drive a vehicle big enough to haul his legion of children, which gulps at gasoline rather than sips, and do so on a teacher's salary, to listen to men making annual salaries of, Oh, roughly a bazillion dollars, talk about tied hands.

But I suppose it's my own fault. I should have gone after that bachelor's in Oil and Gas Executivityness. Doh!

1 comment:

kkollwitz said...

The price for oil is determined in a very competitive world market. The oil companies do not control the price of oil. If they are doing well because the world price is high right now, that is fine with me.