Saturday, December 31, 2005

TOPIC: Oil Company GREED...
As we close out 2005, one of the big stories on everyone's mind is the price of gas and oil. Folks, no matter what we were told this past Summer and Fall, there was one primary reason for the huge increases in retail gas prices. It’s pure and simple == GREED. A few weeks ago, I visited and gathered some interesting info on the "Top Three" gas/oil companies:
Profits Dec ’02 = $33,594 million
Profits Dec ’04 = $48,928 million
Increase = $15,334 million (+ ~45%)
Profits 1Q/’04 = $11,606 million
Profits 1Q/’05 = $21,803 million
Increase = $10,907 million (+ ~94%)

Profits Dec ’02 = $69,208 million
Profits Dec ’04 = $100,442 million
Increase = $31,234 million (+ ~45%)
Profits 2Q/’04 = $23,812 million
Profits 2Q/’05 = $27,749 million
Increase = $3,937 million (+ ~17%)

Profits Dec ’02 = $28,217 million
Profits Dec ’04 = $43,512 million
Increase = $15,295 million (+ ~54%)
While I realize companies are in business to make money, this is RIDICULOUS! BP’s profits for the first quarter of this year compared to the first quarter of last year (when we were being gouged to a lesser extent) have gone up nearly 100%. That’s an outrage when people can barely pay for a tank of gas for their car… and families are going without heating oil this Winter. Folks, the oil companies are LYING to us – and the proof is right in front of your eyes. If the internal costs were so high and the supply so low, they would NOT be able to double their profits as it clearly shown here. It’s time we start raising our voices.

I don’t believe in the government as the savior of our country, BUT it’s time to make them do their part – and act on this situation. We need to call our State Attorneys General, our Senators and Representatives and demand they hold formal hearings to bring charges against the oil companies and their executives for price gouging. We also need to DEMAND more petrol refineries be built in THIS country (not across the border)!

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