OpinionJune 4, 2009
Gas prices artificially high
The economy is going down the drain, unemployment is going up and people are losing their houses and vehicles to foreclosure. KFVS12 reports that there is a decline in the demand for oil, which would translate into a surplus supply. Yet gasoline prices at the pumps have gone from a mere $1.84 a gallon a month ago to over $2.30 per gallon today...
The economy is going down the drain, unemployment is going up and people are losing their houses and vehicles to foreclosure. KFVS12 reports that there is a decline in the demand for oil, which would translate into a surplus supply. Yet gasoline prices at the pumps have gone from a mere $1.84 a gallon a month ago to over $2.30 per gallon today.
If there is a surplus due to a lower demand, why is the price continuing to climb? Because oil companies don't make enough money if the prices came down to where they should be, so they keep them artificially inflated. If I am correct in my thinking, this would be considered price gouging.
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I guess next quarter the oil companies will be crying about how they only made a $300 million profit and now they need a bailout. I feel so sorry for the poor oil companies and their multimillionaire CEOs.
TOM LICHTENEGGER, Cape Girardeau
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